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Surgutneftegaz Plans to Double Oil Output in East Siberia

Surgutneftegaz plans to bring on stream six new fields in Russia's new oil province East Siberia in the next five years, with the aim of nearly doubling crude production in the region to 4.98 million mt/year by 2015, according to company materials obtained by Platts.

Surgutneftegaz Plans to Double Oil Output in East Siberia Surgutneftegaz Plans to Double Oil Output in East Siberia

Surgutneftegaz expects to pump 2.647 million mt of East Siberian crude, which is sold as ESPO blend, in 2010, up from 1.8 million mt in 2009. The company plans to launch the Severo-Talakanskoye field in 2012; Vostochno-Alinskoye in 2013; the Eastern bloc of the Talakanskoye field and Yuzhno-Talakanskoye in 2014; and Stanakhskoye and Pilyudinskoye in 2015. If the goals are met, Surgutneftegaz's crude output in East Siberia will rise from a planned 3.29 million mt in 2011 to 3.848 million mt in 2012, 4.4 million mt in 2013 and 4.98 million mt in 2014. Surgutneftegaz currently has two producing fields in the area, Talakanskoye and Alinskoye, which jointly account for 6% of the company's total crude production and help compensate for declines from projects in the company's key production region West Siberia, the document said. Another promising area for the company is Timan-Pechora in Russia's northwest. Surgutneftegaz plans to commission the Nenetskoye oil field in the area in 2013, but did not give any further details on the field. The company's total crude production currently stands at around 1.2 million b/d, or around 60 million mt/year, according to the materials. In 2009, the company produced 59.6 million mt of crude, down 3.3% from the previous year, and 14 billion cubic meters of gas, down 0.7% year-on-year.

Source : Platts