News

Production results of 2014 in Imperial Energy Group and plans for 2015

With the oil production business plan of 0.305 MMT actual oil production in 2014 amounted to 0.290 MMT (95,1%). The Group’s business plan for 2015 provides for oil production in the scope of 0.321 MMT.

Total reduction of oil production scopes is related to implementation of the new program for deployment of cutting-edge technologies for drilling and stimulation of wells at Snezhnoye field. The program involves drilling of long horizontal wells and casing of horizontal section using special equipment, with the following multi-stage fracs.

Imperial Energy Group has high hopes for success of its project for drilling and stimulation of the first well at Snezhnoe field under the new technologies program. Subject to the results of this project, decision with respect to further deployment of the Group’s innovational program at Snezhnoye and other oilfields shall be taken accordingly