State owned Russian energy giant Rosneft on November 13, 2017, said that hydrocarbon production increased 8.8% in the 3rd quarter of the year.
Average daily hydrocarbon production was lifted by 9.7% to 5.72 mmboe/pd while liquids increased by 11% year-on-year.
Gas production was also up slightly by 3.1% to 50.86 bcm.
In the 3rd quarter of the year the company continued the implementation of the approved operating plans, many of which are based in Siberian assets.
Tax incentives from the Russian Government are also expected to enable further upstream exploration and development through the year.
During the quarter the 1st commercial simulator of hydraulic fracturing in Eurasia, RN-GRID, was set up.
This import-substituting development will ensure Rosneft´s technological independence in computer modelling and higher efficiency of hydraulic fracking operations.
The company has started the commercial development of 2 fields at the Tyamkinsky Hub of the Uvat project: Severo-Tyamkinsky and Severo-Tamarginsky.
The development of the Suzun and Messoyakhaneftegaz projects are progressing in line with its plans, the company noted.
In Q3 2017, 2 geological expeditions were successfully conducted: in the area of East Taimyr and the Northern flank of the Khatanga Bay, as well as in the southeastern part of Sakhalin Island
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