RussNeft Plans to Raise its Oil Output in Ulyanovsk Region to 1.1 Million Tons by 2006
NK RussNeft OAO is going to raise its oil output in the Ulyanovsk region up to 800 thousand tons in 2005 and 1.1 million tons in 2006. The statement was made at a meeting between head of the regional administration Sergey Morozov and the company chief Mikhail Gutseriev, the regional administration press-service said in a statement on Tuesday.
NK RussNeft OAO is going to raise its oil output in the Ulyanovsk region up to 800 thousand tons in 2005 and 1.1 million tons in 2006. The statement was made at a meeting between head of the regional administration Sergey Morozov and the company chief Mikhail Gutseriev, the regional administration press-service said in a statement on Tuesday.
According to the press-service, the company has developed a middle-term investment program for 2004-2006 and a five-year exploration plan. Among the primary tasks of the program is integrated development of the Cherdaklinsky district and first stage exploration over the areas of Novospassky and Radischevsky districts.
At the meeting it was pointed out that in the nearest future RussNeft was going to expand its operations in the region at the expense of the resource bases of JV Nafta-Ulyanovsk ZAO, Ulyanovskneft OAO and Neftarazvedka OAO.
According to the representatives of the company, RussNeft plans to complete project development of the oil pipeline, pumping stations, and center point of gathering and transferring crude oil into Transneft system, to drastically enhance drilling, hydro-fracturing and carry out pilot operations to assess large-scale application efficiency of state-of-the-art technologies.
RussNeft is also going to continue implementation of social projects in the Ulyanovsk region. Specifically, RussNeft is planning to support repairs of some rural schools. Moreover the company is going to participate in the joint financing to be allocated for the construction of a manufactured ice stadium (initiated under the former head of the region) and major repairs of the regional schoolchildren’s center for creative activities. The oilmen will undertake to provide some office equipment for municipal establishments of the region.
Oil Company RussNeft operates in six districts of the Ulyanovsk region; they are Nikolayevsky, Melekessky, Cherdaklinsky, Novomalyklinsky and Radischevsky districts. During 2004 the company sold 600 thousand tons of crude oil to various consumers, the press-service says in the statement.