Abstract

The biggest part of the Company's asset portfolio consists of mature fields with declining production levels. High water content in produced reservoir fluids, and low production rates become the reason for low economic efficiency of a significant number of production wells that fall into the category of marginal or unprofitable wells. Reducing operating expenses for artificial lift and bringing these wells into the profitable category is the goal of the Technology of Oil Production from Marginal Low-Rate Wells project launched in our Company in April 2017 (Kibirev E.A. and others, 2018).

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