News

Results in 2015 and plans for 2016 of Imperial Energy Group.

In 2015, the Group produced 294.089 Kt against 321 Kt planned which is 91.6 % of the target. It is planned to produce 382.600 Kt during 2016.

The short fall in production was mainly caused by delays in drilling schedule of new wells of Snezhnoye and South-Mayskoye fields resulting in their late commissioning.

In 2016 the Group continues with sustainable implementation of new completion technology of multi-stage frack jobs, tested successfully earlier in Naunak suite of Snezhnoye field. Rolling out to other field, the Group of Companies will drill a side-track well with a horizontal length of 800 m for Tyumen suite in Mayskoye field. In 2017 special-purpose equipment will be lowered into the drilled hole for carrying out multi-stage frack jobs based on new technologies. Great expectations are placed on this project since getting high commercial flow rates subsequent to results of frack jobs will provide Imperial Energy with an opportunity to increase volume of oil production from its field.  Meanwhile, the Group has decided to move ahead and complete its APG Project before undertaking full field development of Sneznoye field.