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Gazprom Neft and Mubadala Petroleum Expand Technological Cooperation

Gasoil News - Published on Fri, 21 Feb 2020

Image Source: Paleozoic Project
Gazprom Neft and Mubadala Petroleum have entered into a Memorandum of Cooperation on technological collaboration. Gazprom Neft and Mubadala Petroleum have agreed to work together in developing new technologies key areas in this collaboration being the development of innovative solutions in oil production, and digitalisation of production processes. The parties will also investigate opportunities for technological cooperation in other areas.

Gazprom Neft and Mubadala Petroleum are partners in the Gazpromneft-Vostok joint venture, which manages the development of 12 fields in the Tomsk and Omsk regions of Western Siberia. This joint venture is also involved in implementing a technological project, the Paleozoic Project, directed at developing technologies for discovering hard-to-recover oil deposits within Jurassic formations throughout the Tomsk region.*

The Paleozoic Project has been put in place to develop proven technologies for hydrocarbon exploration and prospecting at Jurassic formations. The project comprises two main areas: research and development, and exploratory drilling. Work on the project is being undertaken by geological services at Gazpromneft-Vostok and the Bazhen Technology Centre, in close collaboration, together with Tomsk Polytechnic University and other organisations and higher educational institutions in the Tomsk region. A Cooperation Agreement on developing hard-to-recover reserves was signed between Gazprom Neft and the Tomsk Oblast in 2016. The Paleozoic Project was initiated in 2017.

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Posted By : Yogender Pancholi on Fri, 21 Feb 2020
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