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Geological Exploration

Neftesib is one of the biggest suppliar of petroleum product in Russia federation and CIS countries in terms of reserves and production. Adding reserves is one of the Company’s key priorities.In 2014, Neftesib continued efficient replacement of its resource base. The Company’s 2014 ABC1+C2 hydrocarbon reserves amounted to 116 bln boe (ca. 11 bln toe). Investment in exploration was twice the 2013 amount, primarily due to increasing the scope of offshore operations.

The exploration program was successfully delivered. The Company carried out operations in all the regions where it has the right to subsoil resource use in the Russian Federation, including the Far East, East and West Siberia, the Volga-Urals and Timan-Pechora regions, and the south of Russia. 90 exploration wells were drilled and tested with the success rate of 70%; 4 new fields were discovered, including 1 offshore fields, and 64 new accumulations in the existing fields. The total discovered reserves amount to ca.360 mmt of oil equivalent.

Reserves additions in West Siberia — 145.3 mm tons of oil and 61.2 bcm of gas. 47 Exploration wells demonstrating an 78% success rate. Tavricheskoye field discovered as part of the Uvat project in the south of the Tyumen region plus 14 new hydrocarbon accumulations. Total reserves additions in East Siberia — ca. 49 mm tons of oil and 33.4 bcm of gas; 4 new accumulations discovered. Total reserves additions in the Volgo-Urals region — 32.4 mm tons of oil and 3.0 bcm of gas; Rudnikovskoye and Yuzhno-Barsukovskoye fields discovered in the Samara region plus 37 new hydrocarbon accumulations.