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Shelton Petroleum grows oil facilites in Rustamovskoye field

20th January 2014

Shelton invests in SEK 20 million towards oil fields in Bashkiria, Russia

Map of Rustamovskoye field

Swedish oil company, Shelton Petroleum, has provided SEK 20 million in oil facilities on the Rustamovskoye field in Russia with the intention to improve efficacy in the handling of current and future oil production.

The company is focused on exploring and developing concessions in Russia and the resource-rich basins of Ukraine.

This investment includes gathering, measuring, separating and the storage of crude oil.  The capacity is a little less than 2,000 barrels per day, which is more than the current production of about 600 barrels per day.  However, the facilities, using some minor investments, the capacity can be further increased to several thousand barrels per day.

The project will also incorporate future wells from the company’s neighboring Aysky and Suyanovskoye licenses. The six hectare infrastructure is situated about 500 meters from the producing wells and just a few hundred meters from the Bashneft pipeline. The company believes that complete construction of the facilities will occur by the end of the year.

Robert Karlsson, CEO of Shelton Petroleum, revealed that “These investments are very important for the further development of Shelton Petroleum’s three oil fields in Bashkiria. The company’s successful drillings have provided us with important information on the reservoir’s properties and extension, and we are currently preparing a geologic update that will detail this further. We have recently doubled the production of oil on the Rustamovskoye field, and the new investments in infrastructure will enable the company to handle another doubling of production.”

In a month, Shelton Petroleum intends to issue a geologic update on the oil field.

 

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