Rosneft, an integrated oil company majority owned by the government of Russia, broke another world record Tuesday. Off the coast of Russia’s Sakhalin Island at the Chayvo field, the company reports that it has drilled the longest well in the world.
Petro Global News reports that the O-14 production well drilled to a depth of 44,291 feet and reached horizontally to 39,478 feet. Part of the Sakhalin-1 project, the offshore drilling endeavor is tapping into the Arkutun-Dagi, Odoptu and Chayvo deepwater fields. Since the project’s beginnings, Rosneft has broken nine world records. In 2013 alone, the company set two world records for measured drilling depth.
Rosneft said in a statement that the great reach of the project was also drilled in record time by utilizing ExxonMobil’s ‘Fast Drill Process.’ Rosneft chairman and President Igor Sechin said in a statement, “This well continues successful implementation of our outstanding project. I would like to express my thanks to our partners – ExxonMobil. Usage of their drilling technologies made this achievement possible.”
Rosneft began production in the Chayvo field in 2005. Since then, its Sakhalin-1 project has produced 80 million tons of oil and 16 billion cubic meters of gas, according to Petro Global News. Currently, the amount of recoverable reserves for the project is estimated to contain roughly 487 billion cubic feet meters of gas and 236 million tons of oil.
The project is jointly owned and operated by four different companies. Rosneft has a 20 percent interest in the venture. The remaining companies involved include ExxonMobil with a 30 percent stake, Russia-based Sakhalin Energy holding 30 percent, and India-based ONGC Videsh holding the remaining 20 percent. To read the original article, click here.