Project Profile
Location: 330 km to the northeast of Ufa, the capital of Bashkiria, Russia
Reserves: from 1 to 23 million barrels
Production: 26,000 barrels
Area: 52 square kilometres
The Rustamovskoye license block is situated some 330 km to the northeast of Ufa, the capital of Bashkiria in Russia. The Rustamovskoye block encompasses an area of 52 sq km. The block is surrounded by producing oil and gas fields, all of them controlled by the mid-size Russian joint stock oil company Bashneft. Shelton Petroleum (formerly Petrosibir) has completed a successful exploration program on the Rustamovskoye license block. Shelton Petroleum has collected 167 kilometres of 2D seismic and drilled two exploration wells. Several oil- and one gas-bearing layer were found. The wells are currently extracting oil from sandstones of the Devonian period. Shelton Petroleum has started a multi-well infill development drilling program of the field, which includes drilling up to six production wells and setting the infrastructure for processing, storage and transportation of oil. The new wells will be drilled between the two exploration wells with the purpose to reach the middle of the reservoir.The original exploration license was issued in September, 2004.
During the spring of 2009, the Russian licensing authority, Bashnedra, prolonged the license through December 2012. The license allows Shelton Petroleum to extract and sell hydrocarbons from Rustamovskoye for an initial period of twenty years. During the second quarter of 2011, 26,000 barrels of oil were sold from initial production from the two successful exploration wells on the Rustamovskoye field. Based on the recent test production and the previous seismic programs, Shelton Petroleum has designed an up to six well drilling campaign on this field to be commenced during the fall of 2012. Based on these results, the 2P oil reserves on this field increased from 1 to 23 million barrels in the recent reserves update published autumn 2014.
Operators:
Shelton Petroleum: Operator with 100% interest