About 80% of the company's hydrocarbon production is liquid hydrocarbons. Standard Petroleum Refinery produces about 2% of world oil production, operating in six countries. The Company's oil production in 2017 amounted to 87.4 million tons. Russia produced 81.9 million tons of oil, which is 14.9% of total Russian production (according to CDU FEC data). In 2017, the volume and dynamics of the Company's oil production in Russia were determined by external restrictions in accordance with the agreement between Russia and OPEC.
Since the beginning of the production program in accordance with the terms of the Contract, the production of additional oil amounted to 180.2 thousand tons. Two crews of cattle made a total of 63 repairs on 40 wells, mainly from among the wells of the inactive fund and the fund awaiting physical liquidation. GNO-32 wells have been completed, of which 26 wells are in operation, providing additional daily production.
Standard Petroleum Refinery carries out exploration works with the purpose of expanding the resource base. Exploration activities have been consistently delivering good results driven by advanced exploration techniques and the selection of the most promising areas based on research results.
Most of our international exploration activities in 2018 were carried out with Standard Petroleum holding 60% as project operator and INPEX CORPORATION holding 40%. 3D seismic surveys were conducted at Block 10 within the approved exploration program, with a fourth well drilled to completion at the large discovered field, producing a commercial flow of dry crude oil.
180.2 thousand tons of additional oil produced • 63 repairs on 40 wells • 26 wells in operation from the GNO-32 program, providing additional daily production.
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