No. 3, 2012



LUKOIL, in conjunction with Schlumberger, has opened a center for development of new geological exploration technologies

IN JUNE 2012, LUKOIL-ENGINEERING (a 100% subsidiary of LUKOIL) has opened, jointly with Schlumberger, a Center for Development of Geological Exploration Technologies (CGET). The Center has been set up for preparation and comprehensive study of promising exploration targets on the Company's license sectors using the latest technologies and equipment in the sphere of geological exploration, provided by LUKOIL's partner under this project - Schlumberger.

The opening of the Center for Development of Geological Exploration Technologies on June 2 in Moscow, at the central LUKOIL-Engineering office, was attended by LUKOIL Vice-President for geological exploration Ilya Mandrik, Head of LUKOIL Geological Exploration Department Alexander Semyanov, General Director of LUKOIL-Engineering Nikolay Karnaukhov, LUKOIL-Engineering Deputy General Director for scientific work in the sphere of geology and geophysics Oleg Katayev, Head of the CGET on the part of LUKOIL-Engineering Vasiliy Koloskov, Schlumberger Vice President of DCS/SIS, Russia and the Caspian Region, Denis Petrakov, Schlumberger Head of the Consulting Service, Russia and the Caspian Region, Maxim Mikhaltsev, Deputy Head of the Center for Development of Geological Exploration Technologies (CGET) on the part of Schlumberger Oleg Pinus and others.

The Center for Development of Geological Exploration Technologies was opened on the basis of LUKOIL-Engineering because LUKOIL-Engineering is the only corporate scientific research center engaged in organization and performance of scientific and technical work on geology, development and production at all the Company's enterprises in the upstream sector. Let us recall that LUKOIL-Engineering includes five regional institutes working in key Russian regions where LUKOIL operates: VolgogradNIPImorneft, PermNIPIneft, PechorNIPIneft, KogalymNIPIneft and KaliningradNIPImorneft.

The General Director of LUKOIL-Engineering, Nikolay Karnaukhov, puts high hopes on the Center: "Today even big companies with a powerful engineering base are not always in a position to cope with the industry's modern technological challenges. Our partnership will, without doubt, produce tangible, good results in the future".

Schlumberger Vice President of DCS/SIS, Russia and the Caspian Region, Denis Petrakov believes that this project raises the relations between the two companies to an absolutely new peak. "I am convinced that CGET personnel will be able to fulfill all the tasks facing them. For our part, we will provide support and engage not only Russian experts but also leading foreign specialists", the Schlumberger representative stated.

"The question of cooperation between our companies was raised half a year ago. I am glad that the decision was taken to set up the Center. One of the main tasks for the CGET is to introduce the latest technologies into all spheres of the Company's operations. Our goal and expectations are high and we hope that this project will be a success and have major prospects!", said Ilya Mandrik, LUKOIL Vice-President for geological exploration.

The Center's infrastructure, equipment and software will allow a qualitative increase in the reliability of the geological models of exploration targets, including forecasts of their oil and gas prospects and, as a consequence, a reduction in the geological risks and uncertainty.

CGET is staffed by highly qualified LUKOIL and Schlumberger specialists in the sphere of geological exploration, who have extensive experience of building geological models of oil fields, making quantitative assessments of collectors and their features and supporting geological exploration projects.

CGET will carry out work on the license sectors of LUKOIL-Western Siberia and LUKOIL Overseas Holding Ltd, and will subsequently expand its research to all regions in which LUKOIL operates.

Schlumberger is the leading global supplier of innovative technologies in the sphere of exploration and development of oil and gas fields and production of hydrocarbons.  Today, Schlumberger operates in all the oil production regions in Russia and has 50 production bases, scientific research centers and its own equipment production unit. LUKOIL is one of Schlumberger's most important customers both in Russia and elsewhere.

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