From FuelFix:
OAO Gazprom Neft, the oil arm of Russia’s state-run gas exporter,
said commercial production from its Bazhenov shale formations could
start in three years amid U.S. sanctions limiting the transfer of
fracking technology.
The company aims to produce about 40,000 barrels of crude a day from
the deposits from 2018. That’s about 2.7
percent of Gazprom Neft’s daily first-quarter output of 1.5 million
barrels of oil equivalent.
Russia’s efforts to replicate North Dakota’s Bakken shale boom are
being hindered by the U.S. ban on exports of equipment and technology
after Vladimir Putin’s annexation of Crimea and the insurgency in
Ukraine.
While that has stalled ventures involving Exxon Mobil Corp.,
Total SA and Royal Dutch Shell Plc, Russia can still extract smaller
volumes through hydraulic fracturing.
Bazhenov is a layer of ancient organic matter that’s the source rock
for most of the crude pumped in West Siberia. That gives the formation
the advantage of being close to pipelines serving Russia’s largest
oil-producing region.
I occasionally
track the Bazhenov at this post, which is also linked at the sidebar at the right, but you have to scroll down quite a ways to find it.
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