Company news in July 2004 | |||
Tyumenneftegaz Increases Crude Oil Output by 1.9%, to 1.06 Million Tons, in 1H 2004
Tyumenneftegaz OJSC (makes part of TNK-BP) increased crude output by 1.9%, to 1,055,344 tons, in January/June 2004, y-o-y, the company informed on July 6. The output came to 181,888 tons in June (versus 172,046 tons y-o-y), 183,130 tons in May (versus 177,112 tons y-o-y), 176,802 tons in April (171,830 tons y-o-y), 176,805 tons in March (176,769 tons y-o-y), 160,212 tons in February(157,063 tons y-o-y), and 176,507 tons in January (180,477 tons y-o-y). As reported earlier, Tyumenneftegaz OJSC extracted 2.082 million tons of crude oil in 2003; the output will be maintained at the same level in 2004. Net profit of Tyumenneftegaz OJSC came to RUR 366.6 million in 2003 as compared with net losses of RUR 546.6 million in 2002. The company will focus on oil field development in the south of the region in 2004. Whereas over RUR 324 million in capital spending was used there in 2003, the plan for 2004 is RUR 500.6 million. In particular, the plan is to extract over 920,000 tons of crude oil in the developed Kalchino field in 2004 (893,000 tons in 2003). Beta-testing will continue in the new North Demiansk field. The plan is to continue prospecting in the south of the region, including seismic prospecting, which would enable to prepare to drilling of 7 prospective structures with resources of at least 20 million tons of oil. In addition, TNK-Uvat OJSC (which also makes part of TNK-BP) is getting ready to development of the Uvat group of fields in the south of the region - 8 blocks with an area of over 18,000 sq. m. and reserves of over 115 million tons of crude oil. Specialists estimate that $ 1.3 billion will be required to create a new oil- and gas-extracting province in the south of the region. Total crude oil reserves in the south of the region are estimated at 1.5 billion tons.
Source: PRIME TASS