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Organization: RITEK
TIN 7736036626, PSRN 1028601440955

Organization ceased operations
Organization name
open joint stock company RITEK
Country name
Russia
Country of registration
Russia
Industry
Oil and Gas Extraction and Refining
Credit ratings
in foreign currency
  • M/S&P/F
    - / - / -
Bond debt
-

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Profile

RITEK is a comparatively small petroleum company; at present, the company owns 24 deposits and fields under exploration.

According to the report by international audit company Miller&Lents, total reserves volume in 17 deposits of RITEK amounted to 861.7 mln tn, technical reserves – 162.8 mln tn. About two thirds of technical reserves are located in 11 oil fields in Western Siberia, and the remaining third in Tatarstan.

30 innovative technologies providing 30% of oil recovery are the company’s main competitive advantage (hydraulic fracturing, acoustic and implosive stimulation methods, application of fiber-dispersion methods etc). Application of technology allows efficient development of complex deposits that used to be considered noncommercial with the use of standard development methods and old petroleum technologies. Oil cost reduction due to use of innovative methods amounts to 33% (as compared to initial cost), which provides the company with high sales profitability (60% in 2000).

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Codes

  • TIN
    7736036626
  • IEC
    631501001
  • PSRN
    1028601440955 on 08/08/2002
  • OKPO
    35784512

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