GeoSplit and NK Rusneftekhim have entered into the partnership agreement

Russian well logging company GeoSplit and NK Rusneftekhim holding company with the main activity in hydrocarbons exploration and production in the Yamalo-Nenets Autonomous Area eager plan to combine efforts in Urengoyskoye oil and gas condensate field development projects.

The management of NK   Rusneftekhim plans to implement the GEOSPLIT hi-tech solutions to increase   well performance that allows to optimize costs for surveys carried out in the context of high oil price volatility on the global market.   In the nearest future the partners plan to launch a pilot project of marker diagnostics using polymer-coated proppant followed by well profile and inflow composition assessment.

GeoSplit supports a concept of production digitalization and develops this trending actively, therefore the subject of the agreement also involves sharing the experience in application of existing IT solutions in oil and gas industry, which is essential for development of NK Rusneftekhim assets.

Alexander Katashov, GEOSPLIT CEO:

"Our example of partnership with NK Rusneftekhim gives a rise to new model of business relationships between oil and gas company and a service company. Apart from strictly operational cooperation at the field facilities we develop a whole host of joint initiatives from mutual aid in brand promotion to expert support at all stages of project planning and implementation. I'm sure that technology cooperation with NK Rusneftekhim, JSC will be high yield upon both parties."

Boris Maslennikov, NK Rusneftekhim CEO:

"We looked into the matters of the technology proposed by our partners from GeoSplit in details by holding a round of technology talks. In light of this the company recognizes the advantages of introduction of the smart solutions designed to reduce the risks in downhole equipment operation, and to ensure high accuracy of the reports and detailed breakdown of the horizontal well interval performance."