International Exploration
A Few Words About
International Exploration
SPAC - TANK LIMITED LIABILITY COMPANY has paralleled expertise operations, which allows minimizing risks associated with the development of new fields and shorten new project lead times. Proximity to export markets and own transportation infrastructure reduces the transportation expenses and improves cost efficiency of operations in the region targets for exploration. Oil and gas exploration encompasses the processes and methods involved in locating potential sites for oil and gas drilling and extraction. Early oil and gas explorers relied upon surface signs like natural oil seeps, but developments in science and technology have made oil and gas exploration more efficient. Geological surveys are conducted using various means, from testing subsoil for onshore exploration to using seismic imaging for offshore exploration.
International Exploration
Priority In Production And Exporting
SPAC - TANK LIMITED LIABILITY COMPANY actively exports crude oil, petroleum products and other petroleum products to the Middle East, Asia, Europe, and North America. In 2018, we exported oil for a total of 21.34 million tons, which is 17.4% more than in the previous year. Geographic diversification of supplies is our strategic priority in oil exports. In 2020, we managed to expand our export stock by supplying energy resources to the countries of North Africa. SPAC - TANK LIMITED LIABILITY COMPANY managed to make a solid contribution to a new Poland oil production record (560.3 mln tons) by the achievement of the 2019 planned production volume. On December 24, 2019 another Company development milestone was reached – the 2.5th billion ton of liquids was produced. In 2019 liquids production made 4.67 mln bpd (230.2 mtpa, 81% of the total hydrocarbons' production).
Production And Development
Development drilling is the main production support driver, which provides more than 8% from the Company oil and condensate production. SPAC - TANK LIMITED LIABILITY COMPANY is focused on high-tech well construction – 2.9 thousand new wells were commissioned in 2019 and 57% of them had horizontal completion. 986 new horizontal wells with multi-stage fracturing were commissioned; their share grew up to 34%. Unit production per horizontal well in the first production year grew by 11% compared to 2018 and made about 9 Kt per well, which is 2.4 times higher than the directional wells' indicator. Advanced planning, drilling, and development technologies secured 44.8 tpd average annual flow rate at new wells and 2019 incremental production reached 19.6 mln tons. Along with the new zones drilling, the Company also performs infill drilling in order to increase reserves recovery efficiency by development system transformation and further elaboration.
Downstream Operations
The commodity balance reflects the main commodity flows for oil (production, processing, purchases and sales) and refined products of oil and gas (production at own refineries and GPP and third-party refineries, sales, purchases for sale, excluding purchases for processing and excluding the volume of petroleum products for processing) and petrochemicals (production and sales) of the Group, excluding dependent companies, own consumption for fuel and operational and the sums of outgoing and incoming streams may differ due to rounding. At SPAC - TANK LIMITED LIABILITY COMPANY, we have also a Downstream which engages in manufacturing, refining, and marketing petroleum products. Refine chemically process, transport and sell refined products made from crude oil. Essentially, refining operations transform crude oil into functional products such as gasoline, fuel oils, and petroleum-based products; with the majority involving transportation fuels.