National joint-stock company Naftogaz Ukrainy on October 4, 2012 announced an open tender to conduct 3D seismological exploration on the Pallas field on the Black Sea shelf.
“The company plans as soon as possible to start developing the Pallas field, with the aim of stabilizing and increasing oil and gas extraction, and to provide for the needs of households and the budget sector for natural gas in full,” reads a report of the holding.
Naftogaz said that the program on the realization of a permit for the use of deposits on the Pallas field foresees conducting 3D seismological exploration (2011-2012), drilling of a 5,350-meter well (2013), drilling of two wells (2014-2017) and drilling of exploration and exploitation wells (2017-2026).
The holding said that it plans to drill 15 exploration and 162 exploitation wells from 4,950 to 6,050 meters deep. It will take around six month to drill one well on the Pallas field.
The Pallas field is located in the northeastern section of the Black Sea on the border between Ukraine and Russia.
