In 2019, the Russian drilling company, part of NaftaGaz Group, improved its drilling performance. The average drilling time was 28.8 days showing a decrease by 1.4%. The overall speed for completed wells increased by 4.1% compared to 2018. The interwell period decreased by 36.7% YOY.
In 2019, the total drilling rate of Naftagaz-Drilling was 756,756 m, which is an all-time high for the Company.
"The available portfolio of long-term contracts with leading Russian oil and gas companies allows us to expect the increase in the drilling rate and new unprecedented results in 2020", says Islam Nazaraliev, CEO of NaftaGaz JSC. "Our goal is to achieve the annual drilling rate in excess of 1,000,000 meters in the next few years."