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Varyoganneftegaz to Perform Well Workover Program in 2012 to Increase Oil Production

Varyoganneftegaz (a member of the TNK-BP Group) will carry out a large-scale well workover program in 2012 with an effect of production growth by more than 1 mln tonnes, which is 25% higher than the same figure of 2011.

The company plans to reactivate idle wells and improve active well stock production performance by implementing a package of process solutions that include fracturing, bottomhole optimization, water shut-off, well chemistry and sidetracking. As of today, the production stock of Target Subsidiary Varyoganneftegaz (VNG) includes ca. 2,200 wells. Pursuant to the business plan, the well workover program is to provide more than 14% of the total VNG production volume in 2012.

‘Wellworkover is a key driver of brownfield production performance improvement. We commission about 100 new wells each year. In addition to that, VNG will carry out 30 sidetracking jobs for subsequent commissioning of idle stock wells in 2012’ said Alexander Dodds, TNK Executive Director and Executive Vice President, Upstream.

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