Press about RVC

The Fund with the Participation of RVC and VEB Ventures Invests 100 Mln Roubles in Russian Oil Production Technologies

29.01.2020
Source: RusBase

The New Industry Venture Fund has invested 100 million roubles in Russian oil production technologies. The investment was received by the ADL Completion Company, which develops and produces solutions in the field of multi-well and multi-hole well completion. Rusbase was told about this in Veb Ventures.

The New Industry Ventures Fund is a joint project of Veb Ventures, Gazprom Neft, Gazprombank, and the Russian Venture Company (RVC).

The Fund believes that the multi-well completion technologies developed by ADL Completion will move in the coming years “from a premium to a category of economically viable and sought-after product for subsoil users”.

The development of the ADL Completion makes it possible to build side-tracks in existing wells while maintaining the flow rate of the main trunk. Due to the drilling of additional holes, the opening area of the reservoir is increased.

According to Vadim Yakovlev, General Director for Exploration and Production of Gazprom Neft, such technologies are needed to develop hard-to-recover reserves.

Today, 90% of the equipment for multi-well completion on the Russian market is imported, according to the ADL Completion site.

ADL Completion is a resident of Skolkovo. The start-up was founded in 2017. According to the Unified State Register of Legal Entities, Dinar Nazimov and Alexander Kashlev each own 45% of the company, and Sergey Fedotov and Cypriot Adala Completions Ltd. each own 5%.

The start-up’s development went through R&D, bench tests, it has a prototype system and is ready for mass production, clarified Veb Ventures. Investments will help the company expand production capacity and improve the technology.

By: Natalya Barkhatova.



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