In 2011 Slavneft produced 18.1 mln tons of oil

abarrelfull wrote on 23 Jan 2012 07:54
Tags: russia slavneft upstream

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In 2011, ОАО NGK Slavneft’s Subsidiaries produced 18.1 mln tons of oil according to the Business Plan that makes 98.5% against the 2010 level. The gas production volume amounted to 845.1 mln m3 that is 0.8% below the previous year.

For the recent years, Slavneft has managed to significantly reduce the hydrocarbons production decline rates. The oil production decline amounted to 6.4% and 3.5% in 2008 and 2009, respectively. This indicator decreased to 2.8% in 2010 and made 1.5% in 2011. In the coming years Slavneft plans to stabilize the oil production at the level of 18 mln tons.

In 2011, Slavneft’s Subsidiaries continued active development of new targets within their LAs. Within the period specified, Slavneft commissioned 217 new wells, the production drilling progress made 780.7 ths m.

Associated gas utilization increased by 3.1% against 2010 and achieved 75%.

Over the reporting period the oil processed by the Company’s Subsidiaries amounted to 25.2 mln tons and increased by 10% as compared to the previous year. At that, ОАО Slavneft-Yaroslavnefteorgsintez (YaNOS) processed 14.8 mln tons of hydrocarbons (the 3.3% increase), ОАО Mozyr Refinery – 10.4 mln tons (the 20.8% increase). The significant growth in processing volumes at the Mozyr Refinery is caused by increased oil supplies to the Republic of Belarus from Russia, Azerbaidzhan and Venezuela.

In 2011, the gasoline production at the Company’s Refineries increased by 1.8% and exceeded 4.5 mln tons. YaNOS and the Mozyr Refinery produced almost 2.4 mln tons (the 2.2% increase) and 2.2 mln tons (the 1.4% increase) of motor gasoline, respectively.

• In 2011 Slavneft produced 18.1 mln tons of oil

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