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Operational results of 2017 in Imperial Energy Group and plans for 2018

Actual volume of oil, produced by the Imperial Energy group of companies in Y2017, was 269.8 k tons, which is 84.3% of the approved business plan (319.86 k tons).

Main reasons of non-achievement of oil production as per business plan are:

1)      Non achievements of pilot testing in Tyumen formation in Maiskoye field by sidetracking and multistage fracking because of well complication committed by drilling contractor.

2)      Lower than plan production from newly drilled horizontal development well in Festivalnoye field. In 2018, it is planned to do the flow intensification work in this well.

In Y2018, the Imperial Energy group of  companies is planning to produce 236.0 k tons of oil from its fields, by  implementing the program of drilling a horizontal well in Maiskoye field  followed by multistage fracture and also carry out new technology fracture operations in old well stock.

Geological exploration operations, which were completed in Y2017, were successful. Two wells were drilled in East-Maiskoye and East-Festivalnoye prospects.

New East-Maiskoye oil field was discovered in Well#2 East Maiskoye in upper Jurassic formations J1 (3-4) and 1313 k tons of geological reserves (617 k tons of recoverable reserves) were booked with the national register. A separate license for HC production and exploration was obtained for the new field.

New gas-condensate field was discovered in Well#2 East-Festivalnoye, with geological reserves of 3267MM m3 of gas and 1249 k tons of condensate.

Additional exploration in Tyumen deposits in earlier drilled wells of Maiskoye group of fields was conducted. Flow tests in wells of South-Maiskoye field were done. In Y2018, after fracking J12-13 in Maiskoye wells, reserves increment is expected. In Y2018, after fracture, it is planned to test J14-15 formation in South-Maiskoye field. After results of these operations, it is expected that reserves will be converted to the commercial B1 category.

To prepare West-Maiskoye field for development drilling in J14-15, an exploratory well will be drilled in Y2018, with the objective of confirmation of geological structure of Tyumen formations and the oil-water contact.

In 2018, implementation of the most prestigious APG utilization project at Snezhnoye field to construct the plant for extraction of value added products (VAP)  will be one of the main focus area for which most of the work orders have already been placed in 2017.

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