Russian oil and gas company Ruspetro has signed a technical partnership agreement with Schlumberger for its West Siberian shale exploitation.
The agreement sets out the planning and subsequent drilling of a number of horizontal, multistage wells in the Bazhenov shale delineation.
The company is hoping to benefit from Schlumberger’s tight oil technology expertise and the payment will be dependent on results, Ruspetro said in a statement.
“We expect this partnership to give Ruspetro the technical tools and sub-surface understanding required to maximize production rates, expected ultimate recovery of oil and, therefore, investment efficiency per well,” said Tom Reed, Ruspetro’s acting chief executive officer.
“Furthermore, the work will result in an improved, know-how driven field development plan for Ruspetro, benefitting from global technology and using best practices for tight oil production.
“Having stabilized our financial position this summer, we consider this partnership a critical next-step towards the profitable and measured development of our field.”
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