Rosneft plans to produce 103 million tonnes of oil this year
One of Russia’s oil companies, Rosneft, plans to increase oil production to 103 million tonnes in 2007 and to bring it to 140 million tonnes by 2011-2012, Prime Tass economic news agency said on Monday, quoting the company’s press release.
The document summed up the results of Rosneft President Sergei Bogdanchikov’s trip to the West Siberian town of Nefteyugansk, and the Gubkinsky and Vankorskoye oil fields.
In Bogdanchikov’s words, his company is completing the drafting of a business plan for a period up to 2012. At the end of October, “we will approve the company’s development strategy till 2020,” he said.
“This year, Rosneft is the world leader in terms of oil reserves,” Bogdanchikov said. “And this means, we are provided with oil reserves for 30-40 years with the current level of technology,” the president of Rosneft added.
“The company’s Yuganskneftegaz subsidiary produced more than 60 percent of Rosneft’s oil,” Bogdanchikov said, adding, “Yuganskneftegaz is expected to raise oil output by 25 percent in the next five years.”
“Currently, the subsidiary’s yearly oil production is 60 million tonnes. And it will produce 75 million tonnes by 2012,” Bogdanchikov said, explaining, “The growth of Yuganskneftegaz’ output will make up 9 percent in 2007 as compared to last year.”
Bogdanchikov noted that the development of the Vankorskoye oil field was one of Rosneft’s major projects.
The company plans to produce about 25 million tonnes of oil a year in that field. It will have to drill 200-300 wells for that purpose, Prime Tass said.