Lukoil Intends to Invest 14.5 Billion Rubles in Geological Exploration in Komi and the Nenets Autonomous Okrug Over Four Years
It is planned to construct seven prospecting and five exploration wells.
LLC Lukoil-Perm (a subsidiary of PJSC Lukoil) intends to invest 14.5 billion rubles in geological exploration in the Komi Republic and the Nenets Autonomous Okrug over the next four years. The company expects to annually increase 5 million tons of recoverable hydrocarbon reserves, said Deputy General Director of Lukoil-Perm LLC Almir Sayetgarayev during the XVIII Geological Congress of the Komi Republic.
“On average, we produce [in Komi and the Nenets Autonomous Okrug] about 14-15 million tons [of oil] per year, increasing 5-6 million tons of recoverable reserves, resulting in production compensation of 35%. In the next four years, in 2024-2027, “The construction of seven prospecting and five exploratory wells is planned, about 14.5 billion rubles of investment. Geological exploration projects in the Timan-Pechora oil and gas province are often located in remote areas with poorly developed infrastructure and are characterized by high risks, but we are trying to find the keys for the implementation of such objects,” – Saitgaraev said at the plenary session of the forum.
According to him, the company has 90 licensed areas for hydrocarbon raw materials in the Timan-Pechora oil and gas province; industrial reserves, including Komi and the Nenets Autonomous Okrug, amount to 783 million tons.
From 2015 to 2023, the company invested about 67 billion rubles in geological exploration in Timan-Pechora, 154 thousand meters of exploration drilling were completed, seismic exploration was carried out on 8 thousand square meters. km. “As a result of these works, 11 new fields were discovered and put on the state balance sheet with a total increase in hydrocarbon reserves of about 112 million tons of standard fuel,” Sayetgarayev said.
During the reorganization of subsidiaries in December 2023, Lukoil-Komi LLC became part of Lukoil-Perm. The Lukoil-Komi enterprise has been operating since 2001 in the Timan-Pechora oil and gas province and ranked second in production among Lukoil subsidiaries, developing 64 oil and one gas fields in Komi and the Nenets Autonomous Okrug. Lukoil-Perm owned 116 licenses and produced oil at 114 fields. Now Lukoil-Perm owns licenses for geological study, exploration and production of hydrocarbons in the Perm Territory, Udmurtia, Bashkiria, Komi and the Nenets Autonomous Okrug. Current recoverable reserves for all categories of oil amount to more than 1 billion tons.
