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November 29, 2021updated 27 Apr 2022 12:22pm

Verkhnechonskoye Conventional Oil Field, Russia

By Carmen

Verkhnechonskoye is a producing conventional oil field located onshore Russia and is operated by Verkhnechonskneftegaz. The field is located in block Verkhnechonskoye.

An expansion project is associated with the Verkhnechonskoye, namely Verkhnechonskoye Development. This project is currently in the approval stage, expected to start in 2023.

Field participation details

The field is owned by Rosneft Oil and Beijing Gas Group.


Production from Verkhnechonskoye

The Verkhnechonskoye conventional oil field recovered 47.07% of its total recoverable reserves, with peak production in 2018. The peak production was approximately 205.44 thousand bpd of crude oil and condensate and 84 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2056. The field currently accounts for approximately 1% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 834.81 Mmboe, comprised of 736.23 Mmbbl of crude oil & condensate and 591.52 bcf of natural gas reserves. Verkhnechonskoye conventional oil field reserves accounts 0.18% of total remaining reserves of producing conventional oil fields globally.


About Verkhnechonskneftegaz

Verkhnechonskneftegaz, a subsidiary of Rosneft Oil Co is an oil and gas company that explores, develops and produces oil and gas properties. The company operates properties in Katangsky district of Irkutsk region. It transports produced oil to the pipeline system through Eastern Siberia – Pacific Ocean. Yuganskneftegaz operates in the Priobskoe, Mamontovskoe, Malobalykskoe and Prirazlomnoe fields. The company’s projects comprise Priobskoe and Prirazlomnoe. Its fields are integrated with the regional transport infrastructure and Crude oil are exported and delivered to the domestic market by trunk pipeline. Verkhnechonskneftegaz is headquartered in Irkutsk, Russia.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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