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TNK-BP will increase its oil and gas production for the next three years

TNK-BP plans to increase oil and gas production by 1-3 percent for the next three years.

 

TNK-BP plans to increase oil and gas production by 1-3 percent for the next three years, the company’s Chief Operating Office Bill Schrader said, according to ONAKO-Media. Schader said the share of gas in the company’s overall production volume would grow from the current 12 percent to 30 percent in the next 10 years. Specifically, he said production from the Rospan International fields could grow 400 percent.

Rospan plans to produce 3 billion cubic meters of gas in 2011, with a subsequent increase to 9.9 billion cubic meters by 2016. Rospan International is developing deep gas deposits in the Novo Urengoy and East Urengoy gas condensate fields and in the Yamal Nenets autonomous district. These reserves are estimated to be 950 billion cubic meters of gas and 180 million tons of gas condensate.

TNK-BP forecasts its hydrocarbon production will grow 2.5 percent in 2010. 

Source : Russian Energy Ministry Statistics Department