Drilling update
Three wells have been successfully drilled earlier this year in the Sosnovskoye field in Komi and they have produced results in line with the prognosis, see table below. Each of the wells encountered more than 4 meters of net pay (in line with expectations). A fourth well has also been drilled in the field and is now being completed, the test results will follow within the next several weeks. The ongoing drilling program encompasses a total of 6 production wells to be completed in 2017.
All wells will be fracced upon availability of a fraccing fleet to reach the target production rates. We will inform the shareholders about the new well results along with other developments in due course.
Petrosibir owns 49% of the Cypriot company Ripiano, whose wholly owned Russian subsidiaries hold three production licenses in Komi including the Sosnovskoye field.
| Well | Initial flow rate, bbl/day | Current flow rate, bbl/day |
| Sosnovskaya 33 | 145 | 77 |
| Sosnovskaya 39 | 25 | 12 |
| Sosnovskaya 34 | 22 | 19 |
25 August 2017
For more information, please contact:
Pavel Tetyakov, CEO, Petrosibir, tel +46 8 407 1850
[email protected]
Gunnar Danielsson, dep CEO / CFO Petrosibir, tel +46 70 738 0585
[email protected]
About Petrosibir
Petrosibir is a Swedish company focused on exploring and developing concessions in Russia. The company holds licences in the Russian republics of Bashkiria and Komi. Petrosibir's 2P oil and gas reserves amount to 35 million barrels of oil equivalent. The Petrosibir share is traded on the OTC-list at beQuoted under the symbol PSIB-B.
This is an English translation of the Swedish original. In case of discrepancies, the Swedish original shall prevail.
Om Petrosibir
Petrosibir är ett svenskt bolag med inriktning på prospektering och utvinning av olja och gas i Ryssland.
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