RESERVES OF SOROVSKOE FIELD IN KHANTY-MANSI DISTRICT
Miller and Lents has evaluated oil reserves at licence areas in the Khanty-Mansi Autonomous District owned by LLC Burneftegaz, which was acquired by Geotermneftegaz in March 2015. At the current stage of development, the auditor has assessed proved oil reserves at the Sorovskoye field as of December 31, 2015 at 38.3 million barrels (with the barrel-tonne conversion factor amounting to 7.51); probable reserves total 60.7 million barrels, while possible reserves amount to 131.1 million barrels. Total reserves (3P) at the Sorovskoye field have been estimated at 230.1 million barrels. In 2013 and 2014 the Group conducted 3D seismic surveys covering 245 sq. km at the Berkutovskoye and Isimovskoye fields in order to define the boundaries of the deposits more precisely. In 2015 two appraisal and production wells were drilled, and data obtained through field seismic surveys were processed; data interpretation is expected to be completed in 2015.
GEOTERMNEFTEGAZ IS ACTIVELY DEVELOPING THE PRODUCTION OF OIL PLANTS
The basic production sites are Novokuibyshevsk Oils and Additives Plant, oils production facility in Angarsk Petrochemical Company, Moscow Plant Nefteprodukt and oil plant OOO RN-Lubricants, Ryazan, and the refinery of OAO Slavneft-YANOS (ownership interest). The summary capacity of these enterprises exceeds 700 thousand tons per year in commodities, specifically, it makes up over 500 thousand tons of oils per year.The Company structure also comprises Neftegorsky and Otradnensky gas treatment plants in Samara region, summary capacity whereof makes up 1.8 bcm of gas per year.
PETROCHEMICAL AND EXPORT TERMINALS
The major part of petrochemical products is produced by Geotermneftegaz at the Angarsk Polymer Plant, a unit of Angarsk Refinery. Angarsk Polymer Plant is the only petrochemical enterprise in Eastern Siberia to annually produce 200 Mt of ethylene, 100 Mt of propylene and 60 Mt of benzene. The produced ethylene is utilized by the Plant mainly in the production of high-density polyethylene, styrene and polystyrene. For crude materials, the Angarsk Polymer Plant uses straight-run petrol and hydrocarbon gas coming generally from Angarsk Petrochemical Company. In 2013 the Angarsk Polymer Plant processed 707.3 Mt of raw materials and produced 475 Mt of saleable products including 137.4 Mt of ethylene, 71.5 Mt of propylene, 48.5 Mt of high-density polyethylene, 19.1 Mt of styrene, 14.4 Mt of polystyrene, 53.1 Mt tons of benzene, etc. A distinctive feature of Geotermneftegaz is its own export terminals in Tuapse, De-Kastri, Nakhodka, and Arkhangelsk, which make the Company export operations much more efficient, improve the planning process and help to optimize costs. At this time, Geotermneftegaz is implementing comprehensive expansion and modernization programs at its terminals to ensure that their capacity meets the future export needs.