NaftaGaz presented 1H 2018 results

NaftaGaz presented 1H 2018 results

Drilling division of oilfield service company NaftaGaz confidently retains its positions among TOP 5 independent Russian drilling contractors. This is evidenced by the drilling rate data and number of completed wells in the first half of 2018.

278,000 meters were drilled. This is 7.5% more than for the similar period last year. Construction of 73 wells was completed, which is 10% higher than in the first half of 2017. Among them 6 process complicated dual wells and 2 underbalanced drilled wells.

The performance is improving year to date. In 2Q 2018 the drilling rate increased by 26%, number of drilled wells increased by 43%. In 2017 it exceeded 600,000 meters. With the current dynamics a new record will be set by the end of 2018.

LLC Naftagaz-Drilling is one of the leaders in horizontal drilling in Russia. While the average market share is less than 40%, the Noyabrsk company drills about 70% of wells using advanced techniques. Naftagaz-Drilling operates mainly in Yamal-Nenets and Khanty-Mansiysk Autonomous Districts, Tyumen and Tomsk regions.