Gazprom Neft enters advanced drilling technologies MoU

Gazprom Neft has signed a memorandum of understanding with venture capital providers Phystech Ventures and North Energy Ventures concerning the development of hydrocarbon production technologies in Russia.

Offshore staff

MOSCOWGazprom Neft has signed a memorandum of understanding (MOU) with venture capital providers Phystech Ventures and North Energy Ventures concerning the development of hydrocarbon production technologies in Russia.

The parties will jointly examine new technologies and emerging market needs.

A special area of interest is development of radial drilling and multi-hole completion techniques, and new software, with Gazprom Neft likely to be involved in the final stage of R&D, and in the subsequent nurturing of specialist companies for these products.

Igor Rustamov, Head of Drilling and Well Work, Gazprom Neft, said: “Today, the challenges of improving drilling efficiency, improving the quality of engineering solutions, increasing efficiency in developing hard-to-recover reserves, and in intensifying inflows in traditional oil-producing regions, are becoming top priorities for Russia’s oil and gas industry.”

10/30/2017

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