Recent years have seen a growing trend towards applying new and advanced technology in the Russian oil and gas business to maximize productivity and enhance assets value. This has led to improved efficiency and greater technical challenges. In large measure, Sibneft owes its predominant position as one of the rapidly growing oil producers in the Russian energy business to its willingness to embrace new technology in order to enhance the value and maximize the productivity of its assets. This paradigm shift has been critical to the company, not only to maintain its leadership among the majors in Russia, but also to be consistent with the country's aggressive strategy to enhance production rapidly to meet local and international energy demand.
This paper focuses on how Sibneft management has been keeping abreast of new technology in order to meet these technical challenges. Romanovskoe oilfield, which is located in the Western Siberian region, is one such field that has been subjected to this proactive philosophy. Due to the heterogeneous characteristics of the reservoir, inefficient thin beds and relative low permeability, specific applications or "right sizing" of technology are crucial to ensure effective exploitation of the field potential. All the wells in the field are either producing via horizontal wells or have been fracture-stimulated since the beginning of their production history.
The critical success factors that emerged from the applications are accurate well placement within the thin oil column (landing the well in the right place and at the right angle), avoiding poor quality reservoir and undulating wellbore for the horizontal wells, and fracture-stimulating the wells in the low productivity regions. The adoption of the strategy has seen substantial increase in the field total production, which is otherwise difficult to achieve without appropriate applications of specific technology. The successes on overall enhance the long-term value of the asset.