Gazprom Neft, together with its partners, is to develop Russia's first ever integrated fracking-equipment system (the key enhanced oil recovery (EOR) technique used in developing hard-to-recover oil reserves), under a Cooperation Agreement signed at the 2021 St Petersburg International Economic Forum by Vadim Yakovlev (Deputy CEO for Upstream, Gazprom Neft), Yuri Solomonov (General Director and Chief Designer, Moscow Institute of Thermal Technology), and Andrey Efremov (General Director, ZAO SP MeKaMineft).*
[Link]This cutting-edge, Russian-manufactured fracking-equipment fleet will include special vehicles for transporting the system, reagent well-injection units, mobile data-collection and analysis monitoring and control stations, field laboratories, and other equipment. Serial production is planned once the system has been fully tested.
The system will be produced by the Moscow Institute of Thermal Technology, with field testing by ZAO SP MeKaMineft at Gazprom Neft's fields in the Khanty-Mansi Autonomous Okrug-Yugra.
[Link]* Hydraulic fracturing (fracking) is one of the main technologies in enhanced oil recovery (EOR) today. It is based on creating a fracture network in oil-bearing strata by means of high-speed, high-pressure fluid injection into a well. Oil flows into the well through the fissures created, which are kept open using a substance known as a 'proppant'.
Gazprom Neft is a vertically integrated oil company primarily engaged in oil and gas exploration and production, refining, and the production and sale of petroleum products. In terms of production and refining volumes it stands among the top three largest companies in Russia. Gazprom Neft's corporate structure encompasses more than 70 exploration and production, refining, and retailing enterprises throughout Russia, the CIS and worldwide. The company operates across 110 countries, worldwide. Gazprom Neft's filling station network currently totals more than 2,000 outlets throughout Russia, the CIS and Europe. Gazprom Neft is one of the Russian oil industry's leading companies in terms of efficiency. Company revenues in 2020 were ₽2 trillion, adjusted EBITDA ₽485 billion, and net profit ₽117.7 billion. Gazprom Neft's largest shareholder is Gazprom PJSC, which holds a 95.68 % interest. The company's remaining shares are floated on the world's leading international stock markets.
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OAO Gazprom Neft published this content on 04 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 June 2021 15:43:01 UTC.