Output may reach 1.115 million to 1.15 million barrels of oil equivalent a day in 2012, compared with 1.03 million this year, Gazprom Neft said today in a presentation in Moscow.
The state-run oil and gas company bought oil producers in Russia and sought to expand abroad in Venezuela, Equatorial Guinea and Iraq to almost double output to 2 million barrels a day in 2020.
The output increase in the medium term will come from a gas development project at the Muravlenko and Novogodneye fields where Gazprom Neft plans to begin output of 64,000 barrels of oil equivalent a day next year, according to the presentation. Production from the East Orenburg field will peak at 62,000 barrels a day in 2015.
Refining throughput may rise to 771,000 barrels of oil a day in 2012 from 751,000 barrels a day this year, the company said.