05 May 2004 08:52
SPD BEGINS FIRST ZAPADNO-SALYM EXPLORATORY DRILLING
MOSCOW. May 5 (Interfax) - The Russian-Dutch joint venture Salym Petroleum Development, or SPD, began drilling the
first exploratory well at the Zapadno-Salym oil deposit, the largest in the Salym group of deposits in the Khanty
Mansiisk autonomous district the company is licensed to develop.
An SPD release says this represents the first important step in implementing the company's plan for readying the
site for industrial production. Work at the Salym deposits stepped up appreciably last year after the SPD shareholders
voted for a more than $1 billion development budget, it notes.
All-weather roadways have been under construction since the fall of 2003, as have sites for well clusters, oil
pre-treatment facilities and other basis industrial infrastructure, all with the aim of beginning industrial extraction
in late 2005.
Drilling the first well at Western Salym is an important phase in meeting obligations to the Russian Federation, to
the Khanty Mansiisk autonomous district and our shareholders, the statement cites SPD's general director Dale
Rollins as saying.
SPD is aiming not only at keeping to the construction schedule, but also at maintaining high work standards and
protecting health, workers and environment, Rollins said. Bring the oil deposits online will reap benefits for
investors, the regional economy and Russia alike, he said.
The Salym deposit also includes the Verkhne-Salym and Vadelyp deposits, the former containing around 80% of the
group's reserves. Plans are that peak extraction of 120,000 barrels a day will be reached in 2009.
[Interfax] |
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