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Petroleum industry

Russian Oil Companies Increase Exploratory Drilling by 14.6% in January

Strategic Insights

— 1 min read

In January 2010, Russian oil companies drilled 36,000 meters of exploration wells, a 14.6% increase from the same month in 2009, according to the Central Dispatching Department of the Fuel and Energy Complex (CDU TEK). Despite this increase, production drilling decreased by 4% year-on-year to 1.0295 million meters. Some of the major oil companies showed significant changes in their drilling activities, with Surgutneftegas increasing both exploratory and production drilling, Lukoil increasing exploratory drilling but cutting production drilling, and Gazprom Neft increasing exploratory drilling by 13-fold but decreasing production well drilling.

Key Takeaways:

  • In January 2010, Russian oil companies drilled 36,000 meters of exploration wells, a 14.6% increase from the same month in 2009.
  • Production drilling decreased by 4% year-on-year to 1.0295 million meters.
  • Surgutneftegas increased both exploratory and production drilling, with 87.8% and 7.8% increases, respectively.
  • Lukoil increased exploratory drilling by 17.7%, but reduced production drilling by 15.6%.
  • Gazprom Neft increased exploratory drilling by 13-fold, but decreased production well drilling by 0.6%.
  • Rosneft was the only major oil company to decrease exploratory drilling, with a 16.7% year-on-year decrease in January.
  • The Central Dispatching Department of the Fuel and Energy Complex (CDU TEK) tracks the drilling activities of Russian oil companies.

Statistics:

  • 36,000 meters of exploration wells were drilled in January 2010, a 14.6% increase from January 2009.
  • Production drilling decreased by 4% year-on-year to 1.0295 million meters in January 2010.
  • Surgutneftegas increased exploratory drilling by 87.8% and production drilling by 7.8% in January 2010.
  • Lukoil increased exploratory drilling by 17.7% but reduced production drilling by 15.6% in January 2010.

Sources:

  • Central Dispatching Department of the Fuel and Energy Complex (CDU TEK)
  • Interfax

Note: The statistics section includes specific information from the text, including the numbers mentioned, and the sources cited are mentioned exactly as they appear in the original text.

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