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Ruspetro receives 20-year licence extension to its Russian projects

15th April 2014

The London registered exploration and production firm has been awarded a 20-year extension on its Siberian plays, as well as announcing successful horizontal drilling operations in the same block

Ruspetro receives 20-year licence extension to its Russian projects
Ruspetro has also reported the commencement of drilling operations from Pad23b following the spud of its first multistage fractured horizontal well on the Pottymsko-Inginsky licence block.

Ruspetro has announced today that its Vostochno-Inginsky licence, which was due to expire in June 2014, has been extended by the Federal Subsoil Resources Management Agency of the Russian Federation for 20 years until June 2034. Ruspetro, through its wholly owned subsidiaries OJSC INGA and OJSC Trans-oil, holds the Pottymsko-Inginsky, Vostochno-Inginsky and Palyanovo licences covering 1,205 square kilometres in the Khanty-Mansiysk region of Western Siberia.

Ruspetro has also reported the commencement of drilling operations from Pad23b following the spud of its first multistage fractured horizontal well on the Pottymsko-Inginsky licence block. This well designated #214 is being drilled within the Schlumberger technical partnership agreement.

John Conlin, Ruspetro chief executive officer, commented: "We are pleased to have successfully extended our Vostochno-Inginsky licence. Additionally, the commencement of drilling at our first multistage fractured horizontal well marks another important milestone in our technical partnership with Schlumberger."

Ruspetro is a London-based independent oil and gas development and production company, with assets in the Western Siberia region of the Russian Federation.

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