Bashneft acquired LLC Bashneftegazrazvedka, which holds a licence for geological exploration of subsoil blocks aimed at prospecting and evaluating hydrocarbon reserves at the Vostochno-Ikskiy licence area in the Bakalinsky District of the Republic of Bashkortostan (the licence is valid until September 1, 2018).
The Vostochno-Ikskiy licence area has a total area of 1,111.4 sq. km and borders the Ilishevskoye oilfield in the north-east and the Mustafinskoye oilfield developed by Bashneft in the south. In the west, the area borders Bashneft’s Khasanovskiy licence area, where the Afanasyev field was discovered in 2012 (the field was commissioned in December 2013 and its production rate currently totals about 470 tonnes per day).
Structurally and tectonically, the Vostochno-Ikskiy area is situated in the eastern part of the South Tartar roof. Currently, the area comprises two prepared formations: the Kilkabyzovskaya and Plodoyagodnaya formations. Preliminary estimates suggest that recoverable oil reserves at the Vostochno-Ikskiy area may total 7 million tonnes.