Rosneft and CNPC Signed a License Agreement for the use of Hydraulic Fracturing Modeling Technology

Rosneft and the Chinese National Oil and Gas Corporation CNPC, within the framework of the III Russian-Chinese Energy Business Forum, signed a license agreement for the use of RN-GRID software – technologies for modeling and designing hydraulic fracturing (HF). Rosneft’s own development will help improve the efficiency of the development of CNPC’s oil and gas fields.

 As part of the digital strategy implementation, Rosneft in 2017 created the RN-GRID, the first industrial hydraulic fracturing simulator in Eurasia. Import-substituting development ensures the technological independence of the oil and gas industry of the Russian Federation in the field of computer modeling, which is mandatory for the use of hydraulic fracturing technology. In 2018, Rosneft began commercial implementation of a unique software package. RN-GRID is significantly cheaper than its foreign counterparts, but surpasses them in its characteristics.

The company has already sold over 200 commercial licenses to use the software package. The largest Russian and international oilfield service and oil and gas companies became the buyers of RN-GRID.