SPD has acquired the East Shapshinsky 1 license block in an auction.

On January 30, 2019, the Department of Geology and Licensing of KhMAO-Yugra conducted an auction for new license blocks in the okrug. Salym Petroleum Development (SPD) won the bid for the East Shapshinsky 1 license block. The new license comes as a key priority in the company’s inorganic growth strategy.

This is a milestone event for the company as it has been able to go outside the perimeter of the Salym group of fields for the first time in 15 years, paving the ground for new growth. The size of the new acreage is 196 km2, and the block borders SPD’s West Salym field in the north-west. The East Shapshinsky 1 field has not been explored with drilling, and the density of the existing 2D seismic is 0.79 km/1 km2. Company is planning to conduct 3D seismic survey on the license area.

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