Project Profile
Value: Undisclosed
Location: Khantiy-Mansisk region of Western Siberia, Russia
Reserves: 79 million boe (2P) 1.033 billion barrels (C1 + C2)
Area: 528 square kilometres
Start-up Year:
Value US$26 million
Zoltav Resources agreed to buy privately held CenGeo Holdings, owner of an oilfield lease in a prolific area of Western Siberia. CenGeo recently acquired SibGeCo, formerly owned by Gazprom Neft and through it was awarded a 25-year exploration and production licence in February 2013 for the Koltogor blocks in the Khantiy-Mansisk region of Western Siberia in Russia. The licence contains the undeveloped Koltogor oilfield. The Koltogor licence covers a contiguous area of 528 square kilometres in the Khantiy-Mansisk area, one of Russia\'s most prolific oil producing regions. The licence is in close proximity to a number of major producing fields, including Samotlor, Russia\'s largest.
Four successful wells drilled on the Koltogceor licence constituted the discovery in 2009. The oil discovered is sweet and light, over 40 degrees API, Zoltav said in a statement. The company plans to acquire up to 500 square kilometres of 3D seismic data and to further appraise the oilfield, which was only flow-tested in one of the discovery wells. It expects to re-open well number 141 for an initial test well later in 2013 and to drill up to four further appraisal wells starting in 2015. In 2014, West Koltogor oilfield was discovered in the same formation as neighbouring Koltogor, and was found to possess reservoir qualities analogous to Well 141 drilled on the Koltogor Exploration and Production Licence. As of June 2016, Zoltav Resources was still appraising the Koltogor licences for significant conventional exploration potential in the Upper Jurassic formations. The licence is valid until February 2033, and Zoltav intends to bring in a partner in the medium term to expedite appraisal and development.
Operators:
Zoltav Resources (through CenGeo Holdings): Operator with 100% interest