Bashneft plans to produce 13.4 million tons of crude in 2010 and increase its annual production volume to 15 million tons in 2013, Bashneft President Viktor Khoroshavstev said while reporting on the company's results in the first quarter of the year, RBK reports. Khoroshavstev explained that the company planned to assure its growth in production by 2013 by lowering production costs by 10 percent over three years and increasing capex on technical re-equipment at oil fields.
Khoroshavstev also said Bashneft was continuing to modernize its refining plants to bring them up to required Euro-4 and Euro-5 standards as planned by the Russian government. He said the company would spend 3 billion on these programs in 2010. He added that Bashneft planned to process 20 million tons of crude this year and increase processing to 22 million by 2013. The company's total annual refining capacity is currently 24 million tons. Khoroshavstev said Bashneft planned to export about 6.7 million tons of oil products and 2.3 million tons of oil in 2010 as well as sell over 11.5 million tons of oil products in Russia.