OVER THE 5 MONTHS OF 2017 RUSSNEFT TRIPLES ITS CAPITAL INVESTMENTS, UP TO RUB 4.2 BLN
Over the period between January and May 2017, RussNeft made capital investments totaling RUB 4.17 bln that is 3 times higher than the previous year level, the company reports.
Over the period between January and May 2017, RussNeft made capital investments totaling RUB 4.17 bln that is 3 times higher than the previous year level, the company reports.
The funds were allocated to the infrastructure facilities construction.
As the company notes, 15 new well pads were constructed and handed over for drilling equipment installation, 124 km of pipelines were completed. The construction and installation works are performed under the program for development of Tagrinskoye, Verkhne-Shapshinskoye, Sredne-Shapshinskoye, Roslavlskoye, and Poselkovoye fields.
“Timely start-up of the capital facilities will ensure unconditional fulfillment of the oil and gas production program for 2017”, the company underlines.
PJSC “RussNeft” ranks among the Top-10 largest oil companies by crude oil production in Russia. The Company possesses a portfolio of assets located in key Russian oil&gas provinces (West Siberia, Volga-Urals and Central Siberia) as well as in Azerbaijan. Total 2P reserves of the Company exceed 200 million tonnes (SPE).