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In January -September Ulyanovsk group of enterprises of Russneft has produced 522.648 thousand tons of oil

29.10.2009 "AK&M "

Ulyanovsk. In January - September 2009 the enterprises of Ulyanovsk Group of OJSC "Oil and Gas Company "RussNeft" have produced 522.648 thousand tons of oil when according to business plan it was 504.194 thousand tons of oil. This information has been provided by press-service of "RussNeft".

As it is said in the report, "Ulyanovskneft", the subsidiary enterprise of "RussNeft", in 2009 has increased the rate of oil production and is going to produce more than 700 thousand tons of oil with the planned rating of 696 thousand tons of oil.
The key points of the production plan of Ulyanovsk Group of enterprises of "RussNeft" in 2009 are to increase oil rate by means of base production support, support of projects on geological and engineering operations and drilling of new wells. Production growth will be mainly conditioned due to realization of program on geological and engineering operations. In 2009 "RussNeft" made available significant funds for financing of this program.
Besides, "Ulyanovskneft" continues to carry out exploration works under the existing and new license areas in order to supply the resource base of the enterprise. Thus, in 2005 "RussNeft" has accrued at an auction the right to develop prospective Pavlovsky license area. In 2006-2007 there was actively carried out supplementary exploration of the said license area. In 2008 in Pavlovsky license area there was begun exploratory drilling and its detailed elaboration. This year there was conducted seismic survey in the amount of 600 km in length. According to preliminary data of geologists deep exploratory drilling seems to be prospective.
The consolidated proceeds of Ulyanovsk Group of enterprises for 9 months made 2.6 billion Rubles. Production cost of 1 ton of oil reduced by 29% as compared to the same period a year before.
"RussNeft" is among the top ten oil and gas companies of the Russian Federation. The production level made 14.2 million tons, throughput - 7.4 million tons. Total recoverable reserves exceed 630 million tons. "RussNeft" structure encompasses 21 extractive enterprises, 2 refineries, oil terminal in the Bryansk region, and also 96 gas filling stations in the Orenburg Region. The enterprises of the company are situated in 14 regions of Russia and CIS.

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