GEOTEK President Roman Panov took part in a strategic session on the topic "Russian Fuel and Energy Complex - Functioning in the Conditions of External Restrictions. 10 Years Later". The session was held as part of the National Oil and Gas Forum, which is being held from April 16 to 18 at the Expocentre in Moscow together with the international exhibition "Oil and Gas-2024".

During his speech, Roman Panov spoke about the need to develop the technological sovereignty of the Russian Federation in the context of current challenges and high risks in the supply of imported geological exploration equipment. He emphasized that in the current conditions it is necessary to more actively use the developments of Russian developers in seismic exploration work, as well as to provide various forms of state support for service companies with their own production facilities.

"The oilfield services industry has adapted to the new realities and has a fairly large set of effective support measures that the Government is implementing. But without a fundamental breakthrough in today's conditions it will be impossible to move to increasing the efficiency of the industry through the use of modern technologies to maintain the production rates that are currently included in the plans. The main volume of the resource base, which is currently at the peak of production, is depleted at a level of about 70%. Accordingly, more intensive geological exploration is required in Eastern Siberia and the regions of the Far East, where the density of drilling and seismic exploration is more than 10 times inferior to the main oil and gas fields of the country. First of all, this concerns regional and prospecting work in the Krasnoyarsk Territory and Yakutia. But there we face completely different challenges, both in terms of technological and logistical solutions. Therefore, it is critically important for us now to create mechanisms for investment support for the industry in such a volume that will allow us to make the necessary breakthrough in domestic technologies so that they meet this new demand of oil and gas companies," Roman Panov noted.

Within the framework of the import substitution topic, he also spoke about the achievements of GEOTEK, which occupies a leading position in the production and use of pulsed electromagnetic sources for the purposes and tasks of geological exploration in Russia. The company is ready to further expand its production capacity. We are talking about the technology of independent excitation by pulsed sources in motion, which is characterized by obtaining a more detailed image, significantly speeds up the work process, and also makes it possible to conduct research in the most hard-to-reach places and any surface conditions with minimal impact on the environment.

The session was also attended by First Deputy Minister of Energy of the Russian Federation Pavel Sorokin, Deputy Minister of Industry and Trade of the Russian Federation Mikhail Ivanov,Head of the Federal Agency for Subsoil Use (Rosnedra) Evgeny Petrov, Deputy Chairman of VEB.RF, Chairman of the Board of Trustees of the ANO "Institute of Vnesheconombank" Andrey Klepach, Head of the Fuel and Energy Complex AC Daria Kozlova, Partner, Head of the Tax Services Department for Fuel and Energy Complex Clients of the B1 Group of Companies Marina Belyakova and Chairman of the RF CCI Committee on Energy Strategy and Fuel and Energy Complex Development Yuri Shafranik. The moderator was Anatoly Yanovsky, Head of the Working Group on Environmental Safety of the Commission under the President of the Russian Federation on Strategic Development of the Fuel and Energy Complex.

About the company:

GEOTEK is a leading company in the field of seismic exploration on land and in the transit zone, providing services to clients in all major oil and gas regions of the Russian Federation and in the Republic of Kazakhstan. The company is included in the list of systemically important organizations according to the minutes of the meeting of the Government Commission on Improving the Stability of the Russian Economy. GEOTEK makes a significant contribution to the implementation of the state program for the reproduction of the mineral resource base of Russia in the oil and gas sector.