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TNK-BP and Schlumberger have signed a contract to jointly implement a pilot project to develop hard-to-recover hydrocarbon reserves in the Severo-Khokhryakovskoe field in the West Siberia, according to a TNK-BP news release.
The partnership serves to enhance the field production efficiency by increasing production per well and formulating the optimal asset development scenario involving the technology of multistage fracturing in horizontal wells, according to the release. The companies agreed to jointly prepare and implement a comprehensive production program for the hard-to-recover reserves development. The program will be based on the understanding of the project’s cost efficiency at each of the development stages with a target to increase the oil recovery factor.
Under the terms of the contract, Schlumberger will coordinate all operations and provide the entire range of oilfield services within the framework of the project, the release said. The contract includes a provision on the correlation between the contractor’s remuneration and production efficiency.