The Russian Government Chairman Dmitry Medvedev visited the Boca de Jaruco field in Cuba

The Russian Government Chairman Dmitry Medvedev visited the Boca de Jaruco field in Cuba

On October 4, 2019, the Russian Government Chairman Dmitry Medvedev visited the Boca de Jaruco field being developed by Zarubezhneft JSC jointly with the Cuban petroleum corporation Cupet since 2011 in the framework of his official trip to the Republic of Cuba.

The head of Zarubezhneft JSC Sergey Kudryashov has informed Dmitry Medvedev of the project’s specifics, and the Company’s experts have told about unique technologies and innovational approaches which Zarubezhneft applies to enhance oil recovery at Boca de Jaruco. The technologies were developed jointly with the leading domestic scientific institutions: Kazan Federal University, SkolTech, MFTI.

During the operations under this project the Company has achieved high results:

  • Production infrastructure for oil production and steam injection was established;
  • Heavy oil flows from the M formation with the initial flow rates over 20 tons/day were achieved for the first time;
  • Steam and oil ration decreased 7 times and amounted to 3.9 tons of steam per ton of oil;
  • EROI indicator which reflects the energy efficiency of the applied technology through relation of the obtained energy to the spent energy, increased 3 times achieving 3.2 which is at the level of global profitable projects. EROI growth is forecasted.

It allowed proceeding with the drilling of the first horizontal well at Boca de Jaruco field which was launched by the Russian Government Chairman Dmitriy Medvedev at an official ceremony in course of his visit.

It is one of three horizontal wells in which the cyclic steam treatment and the steam assisted gravity drainage technologies which have already proven themselves at the super-viscous oil and bitumen deposits in global practice will be tested. It is further contemplated to apply the front-end Russian technology of catalytic aquathermolysis which shall allow improving the efficiency of Boca de Jaruco field development. In case of positive results the company will proceed to the commercial production stage contemplating drilling of 30 new wells. The implementation of this stage shall provide accumulated production over 2 MM tons of oil.

For reference
Zarubezhneft JSC has been implementing the project for integration of enhanced oil recovery methods at the M formation of the heavy super-viscous bituminous oil field Boca de Jaruco jointly with the Cuban petroleum corporation Cupet. Unique scientific and research works for processing, upgrading and gasification of super-viscous heavy sour oil of M formations are being conducted jointly with the leading Russian scientific organizations. The project is prospective, the in-place oil reserves within the borders of the license area are estimated to be 3.7 billion tons.

Zarubezhneft shows high positive financial performance dynamics

  • For the purpose of improving the Company’s information disclosure level and compliance with the best international practices, Zarubezhneft JSC has published its audited consolidated financial statements reflecting the results of Zarubezhneft Group of Companies’ activities in 2019 prepared in accordance with the international standards (IFRS)