Production and Development
IN 2013 THE COMPANY’S LIQUID HYDROCARBONS PRODUCTION AMOUNTED TO 4,196 th. bpd, WHICH IS A 72% INCREASE, YEAR-ON-YEAR.
Rosneft is producing oil via its twenty nine subsidiaries and joint ventures in West and East Siberia, Timan-Pechora, Central Russia, the south of the European part of Russia, and in the Far East. The Company owns a 20% stake in the Sakhalin-1 project and 50% stake in Tomskneft, included in the reporting statements based on proportional consolidation, and produces oil and gas via three joint ventures accounted for based on its participatory interest therein: Udmurtneft – 49.54%, Poliarnoye Siyaniye (Polar Lights) – 50.0%, and Slavneft – 49.94%. On top of that, the Company has a stake in joint ventures on the territory of Venezuela, Vietnam, Canada, Brazil, Norway, Algeria, UAE and USA.
In 2013, the Company’s efforts were focused on:
- maintaining brownfield production in West Siberia and the Volga-Urals region, including by rolling out new technologies;
- growing production and developing greenfields (Uvat group, Vankor and Verkhnechonsk) according to the plan;
- opex and capex optimization, including by executing programs aimed at energy efficiency improvement;
- integrating assets TNK-BP.
In 2013, the Company’s liquid hydrocarbons production amounted to 4,196 th. bpd, which is a 72% increase, year-on-year. The growth was primarily due the integration of new assets, increased production from the Vankor and Verkhnechonsk fields in East Siberia, and high efficiency of well stimulation operations in the fields of Central Russia and West Siberia.
In 2013, natural and associated gas production grew considerably, year-on-year, and amounted to 38.17 bcm. The growth is associated with the consolidation of new assets and consolidation of ITERA, also, RN-Yaganskneftegaz and Vankorneft delivering programs aimed at prudent utilization of associated petroleum gas, and RN-Krasnodarneftegaz efficiently stimulating gas wells to improve recovery.
In 2013 cumulative development costs of Rosneft’s subsidiaries totaled 345 billion rubles, which is 14,6% more than in 2012.