The article describes the issue of increasing the efficiency of the small oil-producing assets through an integrated approach to geologic studies and reservoir engineering, on an example of a subsidiary of Zarubezhneft JSC - Orenburgnefteotdacha LLC. Orenburgnefteotdacha LLC owns exploration and development licenses for three small oil fields in the north of the Orenburg region: Pashkinskoye, Kirsanovskoye and Chernovskoye fields, which are producing oil from a small well stock since the beginning of the 2000s. In 2014 a comprehensive program of these fields’ development efficiency increase has been approved and it is being currently implemented. The first phase included re-interpretation of previous years’ 3D seismic survey and the increase of base oil production through an introduction of a reservoir pressure maintenance system, dual completion application and individually selected acid treatments with compositions based on the reservoir rocks and formation oil properties. In 2015, after successful results of the first stage, an exploration and development drilling program commenced at the fields. As a result of the first exploration well drilling, an additional small dome with commercial oil reserves was discovered at the Kirsanovskoye field. In course of development drilling program implementation the well completion method was selected on the basis of fields’ geologic peculiarities. So, on a multilayer Pashkinskoye field directional wells with dual completion were implemented and horizontal wells on a single reservoir Kirsanovskoye field. All of this allowed achieving economically efficient new wells’ drilling what had been previously considered lacking prospects. The basic well stock activities and new development wells’ drilling being performed have allowed increasing oil production of the enterprise in general by 50% by November 2016 with further plans to establish a full-scale development system and to further increase the oil production in 2017.