BALAKOVSKOE PETROLEUM REFINERY is producing natural gas from the gas fields and light crude oil from our oil field. Both projects have been commissioned in a record time – the main oil fields in about six and half years, and the other field in just a little over two years - from discovery.
These fields rank amongst one of the largest green-field deepwater oil and gas production facilities in the world. Our fields are the first and deepwater producing fields and remains among the most complex reservoirs in the world. Efforts are underway for augmentation of production from existing producing fields.
In the coming years, BALAKOVSKOE PETROLEUM REFINERY plans to develop additional hydrocarbon resources from the existing discoveries in the portfolio. To supplement the existing asset base, we continue to look at new opportunities globally that are a strategic fit with capabilities and integrated petroleum value chain.
Development activities are underway with first gas being targeted in the current year. As part of development program, BALAKOVSKOE PETROLEUM REFINERY is drilling more than 200 wells and setting up two Gas Gathering Stations and 8 Water Gathering Stations in Phase-I.
BALAKOVSKOE PETROLEUM REFINERY, one of the subsidiary of our refinery is laying around 300 KM of natural gas pipeline.
BALAKOVSKOE PETROLEUM REFINERY upstream joint ventures in Shale gas include working interest partnership. These JVs have positioned BALAKOVSKOE PETROLEUM REFINERY as one of the leading players in the sector. Our current Patrners in shale remain the most competitive liquid shale plays in the US and among the most competitive gas play in US.
We are constantly working with our partners to progress various value creation initiatives that improve our business performance. New development concepts such as down spaced wells, drilling in middle and have been initiated, which will positively impact reserve accretion and improve recovery.
Cost reduction initiatives like multi well-pad drilling, longer laterals and others have been successfully introduced. All JVs remain focused on high-grading of development activities, improving costs and efficiencies and managing the low price environment through prioritizing well capex in the most prolific areas.
Our vision is to be the most respected energy production company in the local and international trade market. Central to our vision is providing incident-free extraction refining and logistics services while protecting our employees and the environment.
BALAKOVSKOE PETROLEUM REFINERY technical, operational and logistic strengths act as a leverage for its refinery units, asset utilisation and optimisation, the key components of the business model. Read more
BALAKOVSKOE PETROLEUM REFINERY entered the Exploration and Production business by becoming partners in with unincorporated joint ventures. Our domestic portfolio comprises of twelve conventional oil and gas blocks all around the nation. Read more
Our upstream joint ventures in Shale gas include working interest partnership. These JVs have positioned us as one of the leading players in the sector. Our current Patrners in shale remain the most competitive liquid shale plays globally. Read more
We seek internal and external perspectives to identify and help us better understand the risks and opportunities associated with new and emerging issues. The issues identified are evaluated for their relevance to us and their impact. Read more