Project Profile
Location: Nizhnevartovsk region of the Khanty-Mansiysk Autonomous District in Western Siberia, Russia
Reserves: 2.5 million tonnes
Area: 71.1 km²
Licence issued: March 2013
International Petroleum, through its wholly-owned subsidiary company, Yuzhno-Sardakovskoye LLC, has acquired a 100% ownership interest in an exploration licence over the Yanchinsky block for the geological study of subsoil and prospecting for oil and gas in the Nizhnevartovsk region of the Khanty-Mansiysk Autonomous District in Western Siberia. The Licence was issued on 15 March 2013 and is valid for a term of five years, expiring on 14 March 2018. The area of the Licence is 71.1 km² and 2D seismic profiles of the Licence area with a density of 0.92km per km² are available to the Company. No wells have been drilled to date in the Licence area. The Licence commitments are as follows:
- by 15 March 2014 to develop, negotiate and obtain the approval of the program for exploration and evaluation,
- by 15 March 2015 to compile the geological and geophysical information and re-interpret the previous 2D seismic data,
- by 15 March 2016 to carry out 3D seismic covering not less than 70 km² of the subsoil area, and
- by 15 March 2017 to commence drilling the first exploration well and complete it not later than 14 September 2017.
Approx. 13 km south of the centre of the Licence area lies a hard-top highway, leading to the central production facility of the Zapadno-Mogutlorsky licence area. Approx. 80 km to the west is the Surgut-Noyabrsk railway, approx. 24 km to the west lies the route of the main oil pipeline \'Povkhovsky-Pokachi-Uryevskie\', and approx. 67 km to the west lies the route of the main gas pipeline \'Urengoy-Chelyabinsk\'. The Licence borders the southern border of the Yuzhno-Sardakovsky licence block (the \'YS Licence\'), which is also owned by Yuzhno-Sardakovskoye LLC. According to the interpretation of the results of the 3D seismic of the YS Licence, the southern part of the Achimov deposits extends beyond the YS Licence into the northern part of the Licence area. Additionally, adjacent to the Licence area, to the south-west, is the Mogutlorsky field, where oil is extracted from the U1 reservoir. According to the 2D seismic carried out in 1992-1993 in the Licence area, a local raised structure in the south of the Licence area was observed with prospects of deposits in U1 of Jurassic age.
Recoverable oil reserves calculated for the site by VNIGNI (All-Russian Geological Research and Development Oil Institute) amount to 2.5 million tonnes. Once wells have been drilled in the Licence area, commercial flows are expected from the reservoirs of Ach1, Ach2 Megion, U11 of the Vasyugansky formation, as well as U2 of the Tyumen formation, similar to the producing reservoirs in the adjacent Yuzhno-Sardakovsky field and Zapadno-Mogutlorsky field.
Operators:
International Petroleum (through its wholly-owned subsidiary company, Yuzhno-Sardakovskoye LLC): Operator with 100% interest
Contractors:
VNIGRI (All-Russian Geological Research and Development Oil Institute): Oil reserves estimation