Russia
MOL-Russ LLC / BaiTex LLC
22.5 MMboe
3.8 mboepd
MOL Group acquired BaiTex in 2007 and entered into a strategic partnership with TPAO by divesting 49% of shares in BaiTex in 2014, while remaining the Operator. Baitugan is a mature oil field in production since 1947, with developed infrastructure, which supports low operating and development costs. The main target of the work program is to keep stable production with infill drilling, well workovers, reservoir pressure support and infrastructure projects.
EXPLORATION PROGRAM
Baitex has Exploration license on Devon formation (valid till 2026).
FIELD DEVELOPMENT PROGRAM
In 2023, well workover program continued, with 27 well interventions completed. Within scope of the waterflooding program, injection wells have been converted to dump flood. Construction work program included pipelines construction and reconstruction, powerline reconstruction and partial modernization of oil treatment plant.
PRIORITIES FOR UPCOMING YEARS
The main objectives for the upcoming years:
- Effective liquidity management to ensure uninterrupted business continuity and create basis for further development
- Getting ready to implement frozen sanctions-compliant projects after full loan repayment (re-evaluation of remaining horizontal/infill drilling opportunities and extended WWO program)
- Keep high employee engagement
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*Gross production number