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Rosneft-BP Joint Venture Makes Second Discovery in Sakhalin


07 October 2005

CJSC “Elvary Neftegas” (Rosneft-BP joint venture) today announced the successful completion of drilling and testing of its second exploratory well in the Kaigansky–Vasuykansky exploration licence. The offshore licence block, covering over 6,000 square kilometres, lies in the south of the Sakhalin-5 acreage, north-east of Sakhalin Island.

The Udachnaya well was drilled to a total depth of 2,705 meters and encountered hydrocarbons in three zones. A restricted test programme was conducted on a single zone which flowed at a rate of 1,900 barrels of oil per day through a 28/64-inch choke.

This second discovery in the block was made by the Transocean Legend semi-submersible drilling rig on the Udachnaya structure located about 40 kilometers offshore, in water depths of some 100 metres.

The first well in the Kaigansky-Vasuykansky exploration licence was drilled in 2004 on the Pela Lache structure some 15 kilometres to the east. It encountered significant volumes of oil and gas in a number of high-quality sandstone reservoirs.

Elvary Neftegas plans to continue exploratory drilling in 2006.
Note to editors
“Elvary Neftegas” is a joint venture between Rosneft and BP (51 per cent Rosneft and 49 per cent BP) registered in Yuzhno-Sakhalinsk. Elvary holds the exploration licence for Kaigansky-Vasuykansky block of the Sakhalin-5 acreage and operates the project.

In addition to Kaigansky-Vasuykansky a BP/Rosneft Alliance also conducted a 3D seismic acquisition program in the West-Shmidt and East-Shmidt exploration licences. About 3,000 square kilometers of 3D seismic were shot from July to October (1,700 square kilometres at the West-Shmidt and 1,300 square kilometres at the East-Shmidt area).

The acquired geophysical data will be analyzed and interpreted by a joint team of BP and Rosneft specialists within the coming months. The 3D seismic survey program will continue in 2006.


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