Surgutneftegaz Increased Oil Reserves in 2024
The increase in oil reserves at Surgutneftegaz in 2024 amounted to 56.3 million tonnes, and oil resources rose by 19.1 million tonnes, according to the company’s annual report draft.
“As a result of comprehensive work on resource development, PJSC Surgutneftegaz achieved an increase in oil reserves of 56.3 million tonnes and oil resources of 19.1 million tonnes in 2024,” the document states.
It is also noted that during the year, seven new deposits were discovered and passed examination by the State Reserves Committee (GKZ) at previously opened fields, with a total recoverable reserves volume of 1.5 million tonnes.
The volume of 2D seismic exploration conducted by the company last year was 1,450 kilometers. To further explore deeper formations, 39 development wells were deepened with a total footage of 43,100 meters. Additionally, 13 development wells were deepened by sidetracking, with a total footage of 11,000 meters.
In 2024, geological exploration was carried out in five regions across 53 subsoil plots, including 13 exploration areas. Exploration drilling totaled 228,000 meters, the majority of which was in Western Siberia. 94 wells were completed. The success rate of exploration drilling was approximately 95%.
Last year, Surgutneftegaz obtained three new subsoil use licenses, including two for geological study, exploration, and production of hydrocarbons, and one for geological study, exploration, and evaluation of hydrocarbons.
The company conducts geological exploration in the West Siberian, East Siberian, and Timan-Pechora oil and gas provinces. Most of the company’s subsoil plots are located in the Khanty-Mansi Autonomous Okrug—Yugra and the Republic of Sakha (Yakutia).
