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Insight 04 March 2015

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Report summary

The Tyumen formation's importance to Russia is growing rapidly. Between 2009-14 production more than doubled to over 400,000 b/d. With sanctions impacting the offshore Arctic and shale oil projects, the Tyumen has emerged as a way of maintaining West Siberian production - which accounts for 65% of Russia's oil output. The Tyumen is being developed as a secondary or tertiary reservoir under brownfields as well as at greenfields where it is the major reservoir - gaining significant tax breaks.

Executive Summary
- Discovered 50 years ago, meaningful development has only been in the past 10 years
- The Tyumen Formations’ growing importance in West Siberia
- Six billion barrels of reserves with upside
- The Tyumen is more complicated than what has come before, but easier than what will follow
- Tyumen production could double by 2020 to 1 million b/d - 10% of Russia's production
- Russia overcomes technology challenges on its own
- The Russian majors dominate
- Maintaining production through tax breaks
- 1 more item(s)...

Tables and charts

This report includes the following images and tables:

The Tyumen is needed to counter the forthcoming decline of the Neocomian and Aptian-Albian
Key Tyumen fields
A few fields have driven Tyumen production increases over the past five years
Reduced Export Duty make fields with 80% Tyumen reserves vastly more profitable