July 26, 2016 6:47 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Salym Petroleum Development N.V.

Company Overview

Salym Petroleum Development N.V. is engaged in the exploration and production of oil and gas from Salym group of oilfields in Khanty-Mansi Autonomous Okrug. It also engages in well construction and testing; oil production; gas utilization; optimization of field development plans; and design and deployment of telecommunication systems in Western Siberia. The company was founded in 1996 and is based in Moscow, Russian Federation. Salym Petroleum Development N.V. operates as a joint venture between GazpromNeft Finance BV and Shell Salym Development B.V.

Novinsky Blvd., 31

Moscow,  123242

Russia

Founded in 1996

Phone:

7 4955 18 97 20

Fax:

7 4955 18 97 22

Key Executives for Salym Petroleum Development N.V.

Chief Executive Officer
Head of Sustainable Development
Head of Completion and Well Intervention
Compensation as of Fiscal Year 2016.

Salym Petroleum Development N.V. Key Developments

Salym Petroleum Development Gets West Siberia License Extension

The Salym Petroleum Development (SPD) has boosted its reserves base for the West Salym oil field in West Siberia after revising the license agreement, and increasing the license area. The JV aims to boost output by 2020 by winning new licenses, increasing reserves and developing unconventional formations. Regulators earlier gave Shell the nod to continue developing the low-permeability Achimov formation after the Anglo-Dutch supermajor proved that the Achimov and Tyumen formations were not unconventional. This allowed the JV to continue its work despite international sanctions, which prohibit the use of Western technologies and equipment for shale oil development in Russia. The revised West Salym license will allow SPD to work at the field until December 2030. Under the new terms, SPD managed to expand the license area, boosting recoverable reserves by 1.2 million tons (8.8 million bbl). SPD's output peaked several years ago and had been declining until 2015 when the company's new management reversed the trend. The company now aims to raise output from 6.109 million metric tons (122,700 b/d) in 2015 to 7 million tons per year by 2020. SPD recently picked up a new exploration license in West Siberia as part of its strategy to boost crude output.

Salym Petroleum Development Launches ASP Mixing Unit at Salym Group of Fields

Salym Petroleum Development has launched ASP mixing unit at the Salym group of fields. This unit is the key facility in the infrastructure of the pilot EOR project which involves injection of a three-component mixture- alkali, surfactant, and polymer - into the formation. The chemical mixing unit's capacity is 1,000 cubic meter per day. The process of preparing the three-component ASP mixture involves four stages: fine water treatment; inline blending of the treated water with loose chemicals (alkali and salt); preparation of a viscous polymer solution in oxygen-free environment; pumping viscous surfactant from the tanks with subsequent mixing with solvent and water.

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Recent Private Companies Transactions

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