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CH Invest CJSC was established in April 2007. It won the tender held by the Ministry of Natural Resources on December 24, 2007, and obtained the subsoil license for Kumzhinskoe field. The license covers geological survey, exploration and production of gas and gas condensate at Kumzhinskoe field for 25 years. CH Invest is a strategic partner of CH-Oil&Gaz in implementation of the project of gas condensate fields development in the Nenets Autonomous District. Kumzhinskoe field ABC1 + C2 reserves of gas within Kumzhinskoe field amount to 104.5 bcm, and of gas condensate – to 3.9 million tons. As per DeGolyer&MacNaughton’s appraisal, 2P reserves of natural gas according to PRMS classification amount to 79.9 bcm, and of gas condensate – to 3.1 million tons. 1P reserves of gas - 58.1 bcm, and of gas condensate – 2.3 million tons. According to an expert evaluation, production volumes of in-place gas will amount to 3.2 bcm per year, and of gas condensate – to 170 thousand tons per year. Production is scheduled to start in 2015. Gas and condensate produced at Kumzhinskoe field is supposed to be commercialized by selling raw materials to CH-Oil&Gaz for processing at the complex planned for construction in the Nenets Autonomous District. The license obligations are being performed ahead of schedule. History of the field: The field is located in the delta of Pechora River, 60 km from Narjan-Mar city. In 1979, on the well No. 9 an uncontrolled gas fountain occurred by accident. May 25, 1981, the accident was liquidated by the underground nuclear explosion at 1470 m depth. After that the field was temporally suspended. In 2007, Nenets Autonomous Area administration proposed to restart development of Kumzhinskoe field to reduce the intrastratal pressure so that the risk of gas discharge shall be minimized. Acting as the initiator of contest for the right to use subsurface mineral resources at Kumzhinskoe field, from the very beginning Nenets Autonomous Area administration positioned this project, above all, of the ecological importance. The subsoil user license was therefore encumbered by serious ecological obligations. |
