In 2006 Orsknefteorgsintez to Be Loaded with 5.5 Million Tons
In 2006 Orsknefteorgsintez taken over by Oil Company RussNeft OAO will be loaded with 5.5 million tons of crude, the company said in a statement.
Such plans were voiced by President of RussNeft Mikhail Gutseriev at a meeting held on Tuesday and devoted to finalization of the cooperation agreement with the Orenburg region.
He said that the first priorities of RussNeft in the region are to develop and implement the investment development project for Orsknefteorgsintez and to enhance social partnership between Orenburg region and RussNeft.
It was reported earlier that RussNeft was going to invest $50 million in upgrading Orsknefteorgsintez OAO.
On December 22 of 2005 RussNeft took over the assets bought from TNK(РТС: TNKO)-BP out of which Orsknefteorgsintez OAO, Orenburgnefteprodukt OAO and Neftemaslozavod OAO are found in the Orenburg region.
In the structure of RussNeft there are 30 producing entities, 3 oil refineries, 2 transport companies, and a retail network numbering 300 gas-filling complexes. The entities of the company are found in 17 regions of Russia and CIS.
The total recoverable reserves of RussNeft exceed 630 million tons. Its annual oil output is 17 million tons.