Will the Start of the Uvat Project be Valid?

Within 2001, Tyumen Oil Company (ТNC) conducted preparation and the coordination of project PSA(form of shared profit exchange) on Uvat, a group of deposits located in the south of the Tyumen. This was undertaken with the wish of an industrial project could start in 2002

Will the Start of the Uvat Project be Valid?

Uvat petroleum has been known about for more than fifty years, but any perspective project has been frozen for all of this time. However ten years ago the desire for production in Uvat found a new urgency due to a discovery in the independent territory of resources.
Uvat ? oil and gas territory includes about 30 sites with stocks of 1.1 billion tons of petroleum. The most attractive deposits of the group: Taylak, Poluniak and I-Iaunskoie among others, contain up to four-fifths of the total stock of Uvat, and are present in the territory of the Khanty-Mansi autonomous region. In Uvat the project has got eight licensed sites located in the Tyumen area.

,The territory which occupies the project in the Uvat region is seven times the size of Luxembourg (18,300 sq.km). In this area eight licensed sites are controlled by the Tyumen petroleum company: Pichtovy, Severo-Demiansk, Urnesk, Ust-Teguss, Tamarginsk-Severo-Bolotny, Kalchinsk, Yuzhno-Pichtovy, Irtish, there are also seven other deposits. Uvat concerns the Zapadno-Siberian oil and gas provinces where there is a great deal of difficultly in conducting geological prospecting and extraction. Difficulties arise in connection to the deep productive layers along with the rather complex and difficult climatic conditions. For example, in the winter some boggy areas do not freeze through, complicating transportation district.

,Of the eight licensed sites it is revealed that there are 7 deposits and 29 perspective structures. Taken stocks (categories С1 and С2) ? 105.4 million т., perspective and forecasted (С3, Д0 and Д1) - 571,3 million т.From the basic parameters it is possible to see from the table, that Kal'chinskoe- is the most attractive deposit of the project, and at the present moment it is in industrial development. Despite all of that, the centre of all Uvat became Severo-Demian - a deposit. It was all opened ten years ago, but only in the beginning of February, 2001 has the company, Tyumenneftegaz started its first industrial petroleum production.
Tab. 1 the Basic parameters of the project: extraction.

,The project was planned to be undertaken under the conditions of PSA. The affiliated society "ТNC-Uvat" which represented itself as the investor on conditions PSA was created. Participants " ТNC -Uvat" along with the Tyumen petroleum company of steel users licensed sites in the structure of the project. ТNC belongs 99.7 % shares, and 0.1% belong to companies SINKO, Novosibgeologiya and Tyumenneftegaz.
Under the project, expenses for the industrial infrastructure were estimated at almost 610 Million, it would not have been possible for the companies of the region to undertake such a large investment project without such a partnership. ТNC has undertaken development of the project.
What moves the company forward?
It is estimated that within 20 years the project will generate 55 billion rubles for the state. In the budget of the country thus will activate 26,265.6 million roubles. Many opportunities remain in the Tyumen area, whose administration cooperates with the company. ТNC, is more exact than its affiliated company, " ТNC -Uvat " will receive 14722 million roubles. But thus not up to the end the order of taxation PSA is determined. However this depend on the PSA taxation remaining constant. (i.e. the government not changing the rate of tax).
It is important to stipulate however that this project was developed and approved in the first half of 2001, and all calculations on the future profitability depend upon taxation remaining constant. However in December 2001 the government brought to the Duma the issue of ability to change the tax position of those parties involved in the project. If changes are granted then all calculations will need to be reassessed.

Автор: Anna Glazova

Источник : Neftegaz.ru