Existing Operations
In 2010, Exillon TP produced 1,050,997 bbl and generated revenue of US$58.3 million.
The crude oil extracted from the Exillon TP fields is of high quality, with an average density of 35 to 38 API, low sulphur content of less than 0.4% and low paraffin content.
To date the main focus at Exillon TP has been on production optimisation through the well workover programme which commenced in early 2010, and on construction of a Gas Power Generating Unit with 1MW capacity which has brought a considerable reduction in diesel costs. During 2010, workover of 7 wells in Timan Pechora was successfully completed, leading to an increase in daily production from 2,050 bbd to 3,350 bbd.
Exillon WS achieved uninterrupted production in 2010 upon completion of key infrastructure projects including a 39km pipeline from the EWS I oil field to a year-round state road.
To reduce dependence on third parties and to improve the economics of oil production, the first stage of an infield oil processing facility was completed, allowing production of commodity oil.
A permanent oil filling station next to the interstate road was also completed in 2010, shortening the transportation distance and permitting the use of higher capacity trucks. Commencement of oil processing at Exillon WS in October 2010 provided the Company with more options to sell its oil and to reduce transportation and processing costs further.