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TNK-BP invests USD64M in production technology at Varyoganneftegaz

TNK-BP has been consistently pursuing its strategy of applying new technology to stabilize production of TNK-BP brownfield assets in West Siberia

MOSCOW, December 19 (Itar-Tass) —— TNK-BP will invest about 64 million U.S. dollars in projects to deploy new production technologies at Varyoganneftegaz (VNG) facilities in 2013, the company said in a press release on Wednesday, December 19.

TNK-BP has been consistently pursuing its strategy of applying new technology to stabilize production of TNK-BP brownfield assets in West Siberia. By 2016, the Company plans to invest around 170 million U.S. dollars to implement an integrated smart field program in the region that involves brownfield automation and production optimisation.

The 2013 VNG technology program contains about 350 downhole intervention jobs, including pilot applications that have been successfully tested in 2012. For example, modified multi-stage hydraulic fracturing was successfully implemented at the Koshilskoye field, delivering additional oil barrels. Further on, this technology will be scaled up across other VNG projects, including challenged reserves.

“Apart from last year’s key projects, we are planning to launch the Asset of the Future project in VNG assets. Its main purpose is to use state-of-the-art automation and IT solutions to optimize production operations, boost oil recovery and reduce operational spending. Application of new process control systems will help make a step change in the quality of operational control, minimize the environmental impact of our operations, and improve the Company’s brownfield production performance,” Sergei Karavayev, General Director, VNG, said.

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