Greenfield Valuation: How to Reduce Initial Investor Risks?
Formulation of the Problem Extracting hydrocarbon resources are exceedingly difficult projects for early stage investments. This is due to the high level of uncertainty that the investor faces when deciding whether to enter a Greenfield project. Investors often do not know how to approach their assessment, do not always fully …
International Experience of Shale Oil Production: Implications for the Bazhenov Formation and Russian Equipment Manufacturers
1. Shale Oil in Russia and the Bazhenov Formation In Russia, the main volume of shale oil (LTO*) resources is located in the Bazhenov, Domanik, and Khadum formations, of which the first is the most promising. The Bazhenov formation is a group of mature source rocks found over an area …
Gazprom VNIIGAZ: Specifics of Determination of Gas Condensate Characteristics in the Development of Deep-Seated Fields with Highly Productive Strata
This article will look at the examples of the Karachaganak and Vuktyl oil and gas-condensate fields, reviewing the specific findings of how to determine the gas and condensate characteristics in hydrocarbon fields with high net reservoir thickness, and namely, the component composition of the formation’s gas, potential content of C5+ …
Drilled Uncompleted Wells in the Context of Energy Strategy
The agreement on limiting oil production (OPEC+), reached in April this year, clearly indicated the need to improve the systems for managing the volumes of hydrocarbon production and supply. To address this task a decision has been initiated, at the highest State levels, for composing an inventory of drilled uncompleted …
Licensing Priorities for the West Siberian Petroleum Basin
Within the West Siberian basin, most of the promising oil and gas areas are licensed and allocated. The unallocated regions are steadily shrinking and the question regarding the optimal choices for the remaining license areas is becoming more and more acute. In order to identify the promising license areas, we …
The Big Oil to Big Energy Transition
Geopolitical, sociological, and economic factors that shape the future of the energy sector Preface Current global energy consumption forecasts indicate that although renewables are set to expand by 50% between 2020 and 2025, they will not fully replace fossil fuels in our lifetimes. However, if recent geopolitical, economic, and sociological …
MOL GROUP Russia: Implementing the ‘Technical Limit’ System to Improve Efficiency in Workover Operations
Russian oil and gas companies have been implementing the Technical Limit methodology for about 10 years to improve the efficiency of various operational stages of well construction and workover, from drilling to production. Gazprom Neft has already written about their experiences of implementing this solution to improve their efficiency within …
The ROGTEC Interview: Evgeny Boldyrev, Executive Vice President, NewTech Services
Localizing Oilfield Manufacturing in Russia The Russian energy sector has been under pressure from low crude oil prices over the last few years, pushing operators to be more cautious about contractors as well as pushing contractors to their percentage of local content. NewTech Services is one of the leaders who …
Robert Shakurovich Mufazalov: With Blessed Memories of a True Teacher and an Outstanding Inventor
On October 23rd, 2020, at the age of 80, our colleague – an extraordinary person, candidate of technical sciences, corresponding member of the Russian Academy of Natural Sciences, Robert Shakurovich Mufazalov, sadly passed away. His whole life is a vivid example of selfless service to the Motherland, loyalty to his …
Drilled Uncompleted Wells in the Context of Energy Strategy
The agreement on limiting oil production (OPEC+), reached in April this year, clearly indicated the need to improve the systems for managing the volumes of hydrocarbon production and supply. To address this task a decision has been initiated, at the highest State levels, for composing an inventory of drilled uncompleted …