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Sorochinskneft to Invest 2.1bn Rubles on Exploration in 2012

NGDU Sorochinskneft (part of TNK-BP Group) will allocate 2.1 billion rubles to exploration in 2012. Sorochinskneft specialists will do seismic surveys at an area of 1,200 km2 and complete the construction of 11 exploration and appraisal wells to increase hydrocarbon reserves.

According to Nikolai Koryagin, Department Director, Geology and Subsoil Use, NGDU Sorochinskneft, as of today the entity has booked 231.2 million tons of Russian recoverable reserves. “Reserves life index is 23 years with the current production rate,” he said.

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