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Rosneft Sets New Record in Drilling Meterage

04 July 2016

As of the end of June, Rosneft drilled 1,010,684 meters of geological material having set a new record in development and exploration drilling across the industry. More than half of that amount was drilled by Company's in-house service subsidiaries. Also, on June 28, 2016 the record daily meterage rate at all producing projects of the Company was renewed and reached 40,339 meters. About half of that amount also accounted for Rosneft's in-house service entities.

The record re-setting was made possible through utilization of new well drilling approaches and implementation of high-performance Russian drilling equipment purchased in line with the strategy for in-house service renovation and upgrading. Another contributor to the success was the high quality of contractors' work under the segregated services system.

Development of the drilling services and higher drilling volumes will enable delivery of the Company's target to increase production to up to 300 million tons of oil equivalent by 2020.

In 2015, Rosneft increased development drilling meterage by 36% to 6.9 mln meters and commissioned 1,839 new wells. Apart of that, the Company continues to develop its in-house services thus enabling further efficiency improvement in the production segment. The number of active rigs increased to 223 units, and the number of crews reached 208. Last year the share of development drilling completed using Company’s own resources exceeded 50%.

Rosneft Information Division
July 04, 2016