Volga Gas confirmed its VM-4 well has been successfully sidetracked and is ready to be tied-in.
Andrey Zozulya, chief executive of Volga Gas, said: “It is pleasing to achieve the important production target with the new well on the VM field. With the completion of the VM#3 well, which is already drilled but awaiting tie-back, the Group is well placed to reach an eventual plateau of 1 million cubic metres of daily gas production from the VM and Dobrinskoye fields.
“The results from the exploration well and delays to the sidetracks are disappointing. However, recent changes in the management of drilling contractors are expected to improve efficiency, as we have seen at Yuzhno Mironovskaya, and we will update the market once we have clarity on the timing for completion of these wells.”
The progress is a welcome reprieve for the firm, which is currently locked in a legal dispute regarding a separate interest.
The oil and gas exploration and production group, operating in the Volga Region of Russia, has since been forced to stall work on its Sobolevskaya-11 project.
A company spokesperson added: “Subject to satisfactory resolution of this, the group plans to complete the drilling of this well which requires a further 250 metres to reach the potential target reservoir at a total vertical depth of approximately 2,600 metres, expected to be in Q1 2016.”
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