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Russneft to Build Up Oil Production in Tomsk by 40%

Source: www.gulfoilandgas.com 3/4/2010, Location: Asia

RussNeft is planning to produce in 2010, 333 thousand tons of oil which exceeds the analogous determinant of 2009 (197.9 thousand tons) by 40%. The growth of hydrocarbons production will be reached through implementation of large-scale drilling programs at the oilfields of OAO NK “Russneft” in Eastern Siberia.

Thus, at Stolbovoye oilfield it is planned to the raise oil production output four times as compared with the last year. This year 11 new wells will be drilled here. OAO NK “RussNeft” is going to bring Stolbovoye oilfield, where recoverable resources amount to 12.2 million tons, to the maximal level of commercial production in the shortest possible time. In the near three years OAO NK “Russneft” will try to bring the annual production output at Stolbovoye oilfield to 1 million tons.

The recoverable resources of Fediushkinskoye oilfield amount to 3.6 million tons. At this oilfield 3D seismic works are under way at the area of 100 square kilometers. The exploration will permit to specify geological structure of the oilfield and to prepare it for commercial operation.

OAO NK “RussNeft” numbers development of the oilfield in Western Siberia among the most prospective projects of the Company. In the near future “RussNeft” is planning to form up on the basis of the basis of the oilfields of this block a new producing center that will become a substantial contribution to the basic centers, traditional for the Company, in Western Siberia and Udmurtia.

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