Russian oil workers are increasing the pace of drilling

Russian oil and gas companies in January–July 2023 increased the pace of commissioning new oil wells. This was reported to Vedomosti by two sources familiar with the Ministry of Energy statistics. According to their data, in January–July the increase in the commissioning of new wells was about 14% compared to the same period last year, while, for example, in January 2023, the number of new wells decreased by a symbolic 0.6% compared to January 2022.

In just seven months of 2023, the interlocutors specify, 4,922 new oil wells were put into operation. Most of them (4,501 wells) fell on the largest vertically integrated oil companies (VIOCs) in Russia. They are increasing the pace of input slightly faster than the industry average. In January, the number of wells drilled by VIOCs lagged behind the result of January 2022 by 1.4%. But then the pace increased significantly and in January–July, VIOCs commissioned 16% more wells than in the same period last year, sources say.