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Shell, Gazprom Break Ground on Premier Bazhenov Oil Shale Well
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Royal Dutch Shell plc and OAO Gazprom Neft have initiated its drilling campaign targeting Russian shale oil, according to a report by Bloomberg.
The joint venture (JV) company, named Salym Petroleum Development, began drilling operations at its first horizontal well. The JV plans to drill five of these wells over the next two years. Prior to commencing drilling operations, Shell and Gazprom conducted a three year study of the play, including core and well logging.
The target is the Bazhenov Oil Shale, which grabbed industry attention in April 2013 when Russian leader Vladimir Putin touted the play as likely the largest oil shale on earth. The Bazhenov is being likened to North Dakota’s Bakken Shale play, but being heralded as over 80 times the Bakken's size.
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