Sibneft starts drilling work at Sugmutskoye field

Jun 27, 2000 02:00 AM

Sibneft began drilling at the Sugmutskoye deposit, the reserves of which total 150 mm tons of oil. By 2003, the maximum oil production at the pilot section of the deposit will be brought to 2 mm tons. The cost of the pilot project is estimated at $ 64 mm.
Sibneft is currently working on a program to begin full development of the Sugmutsky deposit, which is scheduled for 2001. It is expected that capital expenditure under the program will reach $ 370 mm, the maximum output of 6.8 mm tons will be reached in 2006.

Source: Skrin Emitent via NewsBase
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