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The Company completed the acquisition of 107km2 of 3D seismic over the Yuzhny-Ershovskoye ("YE") and 160km2 over the Yuzhny-Mokrousovskoye ("YM") structures in summer 2007. The data for YE were processed/interpreted and Grafovskaya#1 (G#1) - the first company's deep sub-salt well - was spudded on August 28, 2009. The well reached a depth of ~5270 meters (April 2010) and the drilling continues. The Company commenced a successful on-going supra-salt drilling programme in 2007. The initial drill stem tests from Well Uzenskaya #1 (which was drilled in 2007) were promising. The well flowed at an equivalent of 788 barrels of oil per day in a drill stem test from Triassic layer. The well was put on production in 2007 but is currently on stand-by as it produces different quality oil than Y-Uz wells drilled in 2008-2009. Uzenskaya #2 tested high rates of water in the Jurassic and Triassic layers, confirming good collector properties, but has been liquidated. Uzenskaya #3 was drilled on nearby Cretaceous structure (Y-Uz) in 2008 and yielded excellent results in DST producing ~2000 bbls/day of light oil. The well is currently producing ~540bbls a day at 8mm choke of 45 API oil which is sold domestically. Uzenskaya #4 was drilled at the same structure to check the extension of the reservoir and is producing ~430bbls a day of oil at 5.5mm choke. Uzenskaya #5 was completed in 2009 and is producing ~560bbls a day at 7mm choke (it tested more than 4000bbls a day in open hole). Uzenskaya #6 well was drilled as an appraisal well and initially was not productive but was successfully sidetracked and is on production now. Y-Uz#8 and Y-Uz#9 wells were both tested commercial rates of oil and were put on production late 2009. An assessment based on collected production data will be made in 2010 to check if more wells are required/feasible in this field. Water injection system is also considered to keep production steady in the years to come. The basic production facilities (gathering/separation unit, storage tanks, loading points, mobile living quarters, electrical generators' station) were assembled at the wellsite and production started in November 2007. The facilities got fully upgraded in 2008 to accomodate the increase in production. Gas fired generators were installed in 2008 to utilize the associated gas to boost production and reduce costs. Four more potential supra-salt structures have been identified on the Karpenskiy licence area. Well V-Uz#7 was drilled on one of the structures and identified oil-bearing formation in Jurassic. Well V-Uz#10 was drilled at the crest of the structure and identified a thin oil bearing layer which was found sub-commercial; the well was liquidated consequently. 20km2 of 3-D seismic were acquired in September 2007 to design the most efficient drilling programme. The Company started drilling the first well - VM#1 - on September 30, 2007. Extensive coring (of more than 100 meter pay zone), open hole testing and logging (including VSP) were conducted. Successful open and initial cased hole testing produced commercial rates of gas and condensate. The well will be on a test production for a few months prior to be connected to a gas processing facility. Test facilities were built at well VM#1 location. Well VM#2 is completed and put on stand-by waiting for the gas processing plant being completed. Well VM#3 was skipped and will be drilled later. Well VM#4 yielded questionable results with only 9 meter pay-zone and will be deviated to a better target. The construction of gas and condensate processing facilities is being finalized. Volga Gas has contracted with Saratovneftegeophysika to acquire 1,500km of 2-D seismic. 1000km were acquired in 2007-2008 and a sizable sub-salt structure was identified. 500km were replaced with ~80 sq km of 3-D to delineate the structure in 2009. The processing and interpretation have been done. The drilling is to start in 2011. 350km of 2-D seismic were acquired and processed. Two structures were identified: a new exploration target and the old one where Sobolevskoye#11 well was drilled which produced high rates of light oil in the past (up to 2000 boe a day). The plan is to start appraisal/production drilling in 2010. Copyright © 2007-2010 Volga Gas plc. All rights reserved. Updated 2010-04-02 |
