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Schlumberger supplies advanced technologies to TNK-BP

29th October 2012

TNK-BP turns to Schlumberger for the development of hard-to-recover hydrocarbon reserves in West Siberia

Schlumberger supplies advanced technologies to TNK-BP
The project is expected to spur field production efficiency and oil recovery per well

Global oilfield services firm Schlumberger will provide Russian-UK oil giant TNK-BP with its advanced technologies, it emerged on Friday, as part of plans to enhance field production efficiency West Siberia.

Russian petroleum goliath TNK-BP on Friday announced it hashed a contract of an undisclosed amount with Schlumberger for a pilot project which will foster the development of hard-to-recover hydrocarbon reserves in the Severo-Khokhryakovskoe field in West Siberia. The project is expected to spur field production efficiency and oil recovery per well. It will involve technology of multistage fracturing in horizontal wells.

“Developing hard-to-recover reserves is cost efficient only subject to use of advanced technologies and an integrated approach to the development of the entire asset,” said Mikhail Slobodin, TNK-BP executive vice president, strategy and new business development.

“Our pilot project with Schlumberger in the Severo-Khokhryakovskoe field is a new interaction system for the company under which an oilfield services contractor not only provides the entire range of high-tech services and unique solutions controlling the whole suite of operations but is also economically engaged in getting the best result due to the KPI [Key Performance Indicator] system.”

Under the terms of the contract, Schlumberger will coordinate all operations and provide the entire range of oilfield services within the framework of the project. The contract includes a provision on the correlation between the contractor’s remuneration and production efficiency. TNK-BP is Russia’s third largest oil company, with a 16 per cent share in Russia’s total oil production. It is owned by BP and the AAR consortium (Alfa Group/Access Industries/Renova) on a parity basis. The company’s total proved reserves amount to 9.115 billion barrels of oil equivalent as of 31 December 2011.

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