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More Than Triple Investments in Achimov Deposits

Source: www.gulfoilandgas.com 12/20/2011, Location: Asia

In 2012 TNK-BP will invest US$ 250 million in the development of the Achimov deposits at its Rospan fields (100% owned by TNK-BP), more than tripling its investments made in 2011.

The Company has made consistent progress with the implementation of the Achimov Unified Technical Development Plan: the first well at pad 2-17 was commissioned at Vostochno-Urengoiskiy LA on October 9, 2011. As of December 1, 2011, this well produced around 17 mln. cu. m of gas. The second well will be commissioned before the end of this year. TNK-BP's investments in Achimov gas production project in 2011 will amount to US$ 66 million.

Alexandr Sleptsov, Director of TNK-BP's Gas Projects Department, said, "Increasing investments in the development of Rospan's Achimov deposit with remaining recoverable reserves of around 700 bcm of gas of categories ABC1 + C2 is an important stage in implementation of TNK-BP's gas strategy. In 2012, another 7 wells will be commissioned in the Vostochno-Urengoiskiy license area and 3 wells will be producing in Novo-Urengoiskiy license area, which will allow not only to maintain achieved gas and condensate production level in the next year but to also lay a foundation for subsequent production growth".

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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