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Rosneft to launch drilling operations in Solimoes Basin in Brazil in 2017

November 24, 2016, 13:49 UTC+3 MOSCOW
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MOSCOW, November 24. /TASS/. Rosneft Brasil (a 100% owned Rosneft subsidiary) and Queiroz Galvao Oleo e Gas have signed an agreement to charter an onshore drilling rig and associated rig services, Rosneft said in a press release on Thursday. The drilling, scheduled to commence on January 9, 2017, "marks the start of the active phase of Rosneft Brasil’s exploration operations within the Solimoes project," according to the report.

Schlumberger, in association with Queiroz Galvao Oleo e Gas, will provide Integrated Project Management (IPM) services for the drilling operations in the Solimoes Basin as part of Rosneft Brasil's exploration program in the Amazon region, the company said.

The plan is to drill at least two wells within the upcoming drilling campaign with the scope of obtaining valuable geological information and confirming the exploration potential and hydrocarbon resources.

The Solimoes project, which establishes Rosneft as an operator in Brazil, includes 18 license blocks and covers an area of around 37,000 square kilometers.

Blocks contain 11 discovered accumulations of hydrocarbons, which have been evaluated by D&M resulting in an estimate of 666 mln barrels of oil equivalent of C3 contingent resources (of which 95% is natural gas) as well prospective oil resources amounting to 371 mln barrels and prospective gas resources totaling 1.206 bln barrels of oil equivalent.

In July 2014, Rosneft and Petrobras signed a memorandum of understanding, which stipulates a detailed analysis of options for monetization of gas held in the Solimoes basin, the creation of a joint work group and preparation of a roadmap for progressing the study.

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