Petrom Announces Oil, Gas Discovery At Lugovaya-1 Well In Russia

Published: 03-Aug-2009

By: Staff Writer Staff Writer Staff Writer

Petrom SA (Petrom), a company engaged in the extraction, production and distribution of oil, natural gas and related products, has confirmed both oil and gas discoveries in the exploration well Lugovaya-1. The well, located in the Kamenski license in the Saratov region (Russia), was drilled at a depth of 3,882 meters. The first tests showed a flow rate of over 2,500 bbl/d light sweet oil in one zone; two gas-bearing formations flowed 550,000 m³/d sweet gas and 75 m³/d condensate (4,000 boe/d).

Johann Pleininger, Petrom's executive board member responsible for exploration and production: "This exploration success and especially the high flow rates are very encouraging and prove the geological concepts developed in partnership with Russian colleagues by our joint geoscientists' team."