Volgodeminoil A Long-Standing Partnership

Volgodeminoil is the longest-standing joint venture for hydrocarbon production between a Russian and a Western European partner. It produced more than 4.4 million barrels of oil equivalent in 2018.

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Wintershall Dea
Wintershall Dea
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Wintershall Dea/Justin Jin

Volgodeminoil  is the longest-standing joint venture for hydrocarbon production between a Russian and a Western European partner. Wintershall Dea and RITEK, which is a subsidiary of LUKOIL, one of Russia’s largest oil producers, each hold a 50 per cent stake in the company. The company operates in three licence areas in the Volgograd region, covering around 13,625 square kilometres in total. In 2018, more than 4.4 million barrels of oil equivalent were produced.

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where-we-are-volgodeminoil-quick-fact
Wintershall Dea
Wintershall Dea
After an uncertain start, Volgodeminoil turned into a success story.
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Wintershall Dea/Justin Jin
The big picture in sight

In 1992, Volgodeminoil was the only joint venture in Russia that was established without having confirmed oil reserves and which only began to explore for oil after its foundation. In the vast expanses of southern Russia, however, the partners quickly found what they were looking for. Despite all the difficulties, Volgodeminoil succeeded in establishing successful production: Oil and natural gas are currently being produced from eleven fields. In August 2018, the company produced the ten millionth tonne of oil.

Visions of the future in southern Russia

Volgodeminoil plans to start production in the Zalivnoye field in 2019. To increase efficiency on the Molodezhnoye, Avilovskoye and Dobroye fields, gas-powered CHP units are being installed to cover the company’s own electricity needs. An extensive 3D seismic campaign was also carried out covering an area of 1,600 square kilometres, with further exploration wells to follow.

Wintershall Dea
Wintershall Dea
Seismic surveys are carried out in order to explore new reservoirs in Southern Russia 
Credit
Wintershall Dea/Justin Jin
Wintershall Dea
Wintershall Dea
Compliance with environmental standards is a main priority.
Credit
Wintershall Dea/Justin Jin
The environment in focus

Volgodeminoil is rightly proud in achieving international environmental and energy standards. The joint venture has a certified integrated occupational health and safety management system based on the ISO 14001 and OHSAS 18001 international standards. There is no gas flaring. Associated gas is collected, processed in plants belonging to the partner RITEK, and then fed into the pipeline grid. Part of the associated gas is processed in Volgodeminoil’s own plants and used for generating electricity.

300
kilometres north of Volgograd is where the three licence areas are located.
13,625
square kilometres is the size of the concession held by the Volgodeminoil joint venture.
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