NGPT
| Subsidiary | Location | Assets | Interest | Reserves* | Licence Type | Area |
| NGPT | Timan Pechora | Nizhnechutinskoye oil field | 100% | 53 MMbbls of 1P 191 MMbbl of 2P 580 MMbbl of 3P |
Combined (search, evaluation and assessment, drilling and extraction) Expiry: April 2024 |
215km2 34km2(mining allotment status) 181km2 (geological allotment status) |
| NGPT | Timan Pechora |
Timanskiy 4 | 100% | Exploration (search, evaluation and assessment) Expiry: Sept. 2011 |
1053 km2 |
The NGPT Field is held through a combined licence that runs until April, 2024. The Field extends over an area of 215km2 and is located in the Timan-Pechora region, 17 kilometres from Ukhta, a major town in the Republic of Komi. The field is situated approximately 1,200 km from Moscow. Its surrounding areas have well established infrastructure, allowing all year access for field operations. Power lines and a major highway pass through the NGPT Field territory. Most importantly, the branch of the Transneft pipeline, between Ukhta and Moscow, passes directly over the Field. Additional transportation routes include a railway system, with the nearest terminal located close to Ukhta.
In November 2006, NGPT was granted an additional exploration licence covering the Timanskiy Area to the west of the NGPT Field.
Between September 2004 and June 2006 reserves estimates for the NGPT Field have been increased from previous estimates of around 35.2 MMbbls (C1+C2, according to the Russian classification), to approximately 191 MMbbls of Proven and Probable (SPE classification, source: Miller and Lents, CPR). The current estimate of Original Oil in Place is approximately 1,100 MMbbls on a P50 basis, (SPE classification, source: Miller and Lents, CPR).
Since the acquisition of the NGPT Field in 2003, the Company has drilled 27 exploration and appraisal wells in order to further delineate the Field and has started a pilot project which should enable Timan to obtain further hydrodynamic data and evaluate oil properties. In 2007, Timan has completed the drilling of 21 production and 4 water injection wells to a planned depth of 115 meters penetrating the oil bearing sandstones of Reservoir I.
The Company has also invested extensively in the development of field infrastructure and equipment. Timan now owns 4 Atlas-Copco drilling rigs, field vehicles, power supply equipment, compressors; pumps and oil tanks. The Company has recently commenced the construction of an onsite oil treatment plant with a capacity of 3,100 barrels per day.
