00:07 GMT31 March 2020
Listen Live
    Get short URL
    0 66

    The joint venture of Russia's Rosneft and Norway's Statoil started first drilling in Russia's Samara Region.

    MOSCOW (Sputnik) — Domanik Oil AS, the joint venture of Russia's Rosneft and Norway's Statoil, started first drilling as part of venture development in Russia's Samara Region, Rosneft said in a statement Tuesday.

    "During the pilot phase planned for 2016-2019, Domanik Oil AS intends to drill and test at least three horizontal exploration wells, as well as to conduct advanced studies at the license areas of Samaraneftegaz, Rosneft subsidiary. The JV plans to use the most efficient development technologies, including multistage hydraulic fracturing," the statement said.

    The statement added that the drilling, aimed at researching tight hydrocarbon reserves of Domanik sediments, creates new grounds for cooperation of the two companies and contributes to fulfilling their previous cooperation agreements.

    In 2013, Rosneft and Statoil signed a deal on the key principles of implementation of the joint development project of the Domanik sediments at 12 Rosneft license blocks in Samara Region.



    Russia to Honor All Commitments Under Rosneft Privatization Deal - Putin
    Rosneft CEO Asks Putin to Meet With Privatization Deal Participants
    Rosneft, CNPC to Increase Oil Supplies to China by 56 Mln Tonnes Until 2024
    Russia's Rosneft Trying to Sell Shares in Algerian Gas, Oil Project - Reports
    joint venture, Rosneft, Statoil, Russia, Norway
    Community standardsDiscussion
    Comment via SputnikComment via Facebook