RITEK plans to launch the second experimental-industrial site of Bazhenov Suite at Mid-Nazym deposit

RITEK – affiliate of Lukoil – plans to launch the second experimental-industrial site of the Bazhenov Suite at the Mid-Nazym deposit, the company reports on the results of the meeting of the Board of Directors that approved the company’s business plans-2015.

RITEK works by the thermal gas treatment technology at the Bazhenov Suite as a result of the application of which the volume of the additionally produced oil at the first experimental site at the Mid-Nazym deposit exceeded 20 thousand tons.

The priority project for the company in 2015 is the continuation of the development of the V. Vinogradov deposit located within the borders of 2 license sites – Bolshoi and Olkhovsky (Khanty Mansi Autonomous Area - Yugra). At the present time the drilling works are held at the Bolshoi license block.  The drilling at the Olkovsky license site will start in 2016.