Gazprom Neft has established a joint venture (JV) with Spanish energy company Repsol to carry out geological exploration in the onshore Karabashsky zone of the Khanty-Mansi Autonomous Okrug-Yugra in Russia.
In this connection, the companies have jointly acquired ASB Geo, which holds the exploration license for the Karabashsky 10 block.
Located in the Kondinsky district, the license block is in the initial stages of geological prospecting. It is located near license blocks contained in the Karabashsky zone, where Evrotek-Yugra, another joint venture between Gazprom Neft and Repsol, holds rights in some of them.
The Russian and Spanish energy companies intend to start geological prospecting works this year by using 2D seismic technology. The operator of the project will be Evrotek-Yugra, which is also carrying out geological prospecting works in the south-west of the Khanti-Mansi Autonomous Okrug.
Evrotek-Yugra owns hydrocarbon exploration and production licenses for the Karabashsky 1 and Karabashsky 2 blocks, and also exploration licenses for an additional five blocks, which include the Karabashsky 3, the Karabashsky 9 and the Kileisky blocks.
Gazprom Neft first deputy CEO Vadim Yakovlev said: “The acquisition of a new license block in the Karabashsky zone marks a further step forward in developing our partnership with Repsol under the previously concluded Memorandum of Cooperation determining the basis for cooperation in investigating license blocks adjacent to Evrotek-Yugra assets.
“Combining Gazprom Neft’s and Repsol’s competencies, experience and resources is intended to improve efficiency in activities directed at revealing the resource potential of this under-investigated part of the south—east of the Khanty-Mansi Autonomous Okrug.”
Last month, Gazprom Neft announced that its subsidiary Gazpromneft-Khantos bagged subsoil usage rights for geological prospecting, development and production at the Severo-Vaiskiy and Srednevaiskiy license blocks located in the Khanty-Mansi Autonomous Okrug—Yugra.
Located in the Kondinskiy district, the Severo-Vaiskiy and Srednevaiskiy license blocks are of 502 and 211m2 in size, respectively. Gazprom Neft is looking to wrap up 3D seismic works at the blocks by the end of 2020, and in the next year will determine locations for exploration drilling with a target to bring them into commercial production in 2025.