With highly experienced management and skilled operational teams in place, we are well positioned to deliver on our growth strategy.
It is our aim to become a leading medium size, independent oil and gas producer by exploiting our significant existing asset base.
Our highly skilled management team has the expertize to unlock the potential of our reserves using modern exploitation techniques such as multi-stage fractured horizontal wells and waterflooding.
The management team follows a strategy focused on accelerating production growth through investment in drilling, as well as on increasing the Group’s existing reserves. The current reserve estimates are based on only 25% of the license area and a 15% recovery rate. RusPetro now has 3D seismic data for approximately 42% of the license area, primarily concentrated in the northern half, and this has been integrated into our current model of the oil field. We already have all-license area 2D seismic data. This data should allow us to improve further our geological models and production well locations.
As this process develops, proved and probable reserve estimates will increase as recovery rates increase and the migration from probable and possible to proved reserves is verified by detailed seismic analysis, appraisal wells, core sampling, flow tests and well-logging. We will use this information to identify optimal well sites that will allow us to drill high-flow rate wells which target the channel sands.