In 2011 "RussNeft" is going to increase oil production by 5% - to 13,6 million tons
Moscow. This year "RussNeft", which is among the top ten largest Russian oil companies, is going to increase oil production by 5% - to 13,6 million tons, as it follows from the report of the Company.
Last year "RussNeft" has produced 12,962 million tons (in 2009 - 12,687 million tons).
"In order to eliminate the tendency of production decline, which was observed during the year 2009, in 2010 "RussNeft" has intensified its investment program, with the main emphasis on drilling program. Following the results of the accounting year the incremental oil production was achieved thanks to the traditional production regions of the Holding ", - the report says.
According to Miller and Lents estimates, the proven oil reserves of "RussNeft" in the preceding year grew to 1,607 billion barrels from 1,549 billion barrels as at the beginning of 2010.
"In 2010 the Company has fully made up for the annual production of the Holding and has added 58 million barrels of proven reserves.
This was achieved due to the rational planning of drilling and obtaining of new G&G data, which allowed to prove the geological structure of deposits within the boundaries of the available license areas", - explained the Company.
"In order to eliminate the tendency of production decline, which was observed during the year 2009, in 2010 "RussNeft" has intensified its investment program, with the main emphasis on drilling program. Following the results of the accounting year the incremental oil production was achieved thanks to the traditional production regions of the Holding ", - the report says.
According to Miller and Lents estimates, the proven oil reserves of "RussNeft" in the preceding year grew to 1,607 billion barrels from 1,549 billion barrels as at the beginning of 2010.
"In 2010 the Company has fully made up for the annual production of the Holding and has added 58 million barrels of proven reserves.
This was achieved due to the rational planning of drilling and obtaining of new G&G data, which allowed to prove the geological structure of deposits within the boundaries of the available license areas", - explained the Company.
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All Show allRussNeft increases oil production in the first half of the year by almost 2%
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