TNK-BP Increased Production In Uvat By 19% In 2012

abarrelfullabarrelfull wrote on 11 Jan 2013 07:59
Tags: c-asia russia tnk-bp upstream

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TNK-BP informs that according to preliminary data TNK-Uvat's 2012 oil production will amount to approximately 7 mln tons, 19% more than in 2011.

TNK-BP has been consistent in implementing a program aimed at the organic growth of hydrocarbons production by 1-2% annually. The fields of the Uvat project make a substantial contribution to the production growth and the Company's resource base expansion. Indeed, in 2012, the Company booked the Malouimsky field reserves, confirmed oil reserves presence in the north of the Tyamkinsky Hub (from 2 to 8 mln tons of oil according to preliminary estimates) and discovered some new oil traps in the southern part of the Ust-Tegusskoe field. New discoveries alone added about 18 mln tons of reserves in 2012.

"Most of TNK-BP's producing assets are mature fields, so production increase in new projects is one of the key strategic goals underpinning the Company's stable development. At present Uvat is one of TNK-BP's most actively developing assets; it comes third in terms of production volumes preceded only by Samotlor and the Orenburg region. Within our Uvat project, we plan to start up production new fields every year. For instance, in 2013 we will start developing the Yuzhno-Petyegskoe and Radonezhskoe fields, belonging to Tyamkinsky Hub," said Yuri Masalkin, General Director, LLC TNK-Uvat.

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