Our Business
Geology and Exploration
A Robust Network Propelling Industry-Leading Solutions
Veco Polska LLC Oil and gas exploration relies on a combination of advanced technologies and scientific knowledge to identify and evaluate potential hydrocarbon reserves. By employing a range of exploration techniques, the company reduce risk, optimize resource discovery and ensure the long-term profitability of their operations.
"...Igniting Progress...
...Expanding Possibilities..."
The oil and gas potential of RECO OIL LLC’s asset portfolio is associated with both terrigenous and carbonate reservoirs of various geological ages. Hydrocarbon accumulations are identified across multiple stratigraphic complexes, reflecting the geological diversity of the Company’s exploration and production assets in different regions.
Prospects for the discovery of new oil and gas fields, as well as the expansion of proven hydrocarbon-bearing areas, are closely linked to the systematic and stable implementation of the Company’s exploration strategy. This strategy places strong emphasis on high-quality CDP 2D and 3D seismic surveys, complemented by effective prospecting, appraisal, and exploration drilling programmes.
In recent years, hard-to-recover and unconventional reserves have become a key focus for replenishing the Company’s reserve base in the medium term. The continuous development of competencies in the evaluation and industrial development of such reserves, combined with the analysis of ongoing operations and the integration of retrospective exploration data, enables RECO OIL LLC to efficiently rank projects, identify priority assets, and determine the most promising areas for future development.
In order to annually replenish the mineral resource base, RECO OIL LLC plans to continue pursuing the geological exploration policy based on:
- Prospecting and exploration of new hydrocarbon deposits in oil and gas prospective horizons through prospecting and appraisal and exploration drilling, as well as advance production drilling;
- Improving the efficiency of prospecting, appraisal, and exploratory drilling by improving the quality of CDP-2D and 3D seismic surveys, which makes it possible to study in detail complex hydrocarbon traps, including in deep-seated complexes represented by hard-to-recover reserves and unconventional reservoirs;
- Expanding the boundaries of oil and gas potential of already discovered deposits; acquisition of potentially promising new subsoil areas based on geological, technical, and economic assessments.
Since 2017, based on the results of an integrated methodological approach to the study of productive reservoirs, the Company has continued the active development of one of its core oil fields. As a result of sustained exploration and development activities, reserves associated with this field have increased by more than 40 million tonnes of oil since 2017.
The implementation of the development drilling programme at one of the Company’s core oil fields has confirmed the high efficiency of ongoing exploration activities and has enabled continuous, real-time updates to the geological reservoir model. As a result, total reserve additions at this field in 2022 amounted to 12.9 million tonnes of oil.
The primary increase in oil reserves was achieved through the expansion of the licensed area to include additional hydrocarbon accumulations previously outside the developed resource base.
The implementation of production drilling and exploration activities in 2022 did not result in material changes to reserves.
In 2021, the Company acquired the rights to conduct prospecting and appraisal activities across several licensed areas within the B8 and B6 oil fields, further strengthening its upstream asset portfolio.
Company Mission
RECO OIL LLC aims to become a major international player with a regionally diversified asset portfolio across the whole value chain, actively contributing to regional development and demonstrating high standards of social and environmental responsibility.
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