TNK-BP Invests $3 Billion In The Verkhnechonskoe Field Development

abarrelfullabarrelfull wrote on 14 Jan 2013 09:27
Tags: c-asia russia tnk-bp upstream

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TNK-BP informs that the cumulative investment in the development of the Verkhnechonskoe field amounted to approximately 90 billion rubles. In 2012, the Company increased its investment in the project to 18.5 billion rubles, which is 4% higher compared to 2011.

The Verkhnechonskoe field is a new hydrocarbons production center in East Siberia (with reserves exceeding 2.4 bn boe according to PRMS) and one of the major crude suppliers for the East Siberia – Pacific Ocean (ESPO) pipeline system. TNK-BP has been implementing a comprehensive field development program aimed at the most efficient use of the regional resources. According to the preliminary 2012 data, the production in the field grew 40% to exceed 7 mln tons.

"Our main operational goals in VCNG this year will be to increase the capacity of the oil treatment unit up to 7.5 mln tons and to build the third train of the power park and infrastructure for APG utilization. Commissioning of these facilities will enable VCNG to reach the optimal production plateau of 7.8 mln tons in 2014," says Sergey Fedorov, General Director, OJSC VCNG.

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