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TNK-BP invests $3 billion in the
Verkhnechonskoe field development
TNK-BP increases production within
international projects by 14% in 2012
Moscow, January 11, 2013 – 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.
TNK-BP increases production within
international projects by 14% in 2012
Moscow, 15 January, 2013 – ТNK-ВР reports that based on the 2012 results oil production within the Company international projects is estimated at 18 mln barrels, which is 14% more than a year before.
TNK-BP is consistently implementing its program to increase production within the Company foreign assets. By 2020 the share of international projects in the total
hydrocarbon production volumes of the Company is expected to be ca. 10%.
Currently the Company foreign assets portfolio includes projects in Venezuela, Vietnam and Brazil. Jointly with Venezuela's state-owned company PDVSA, ТNК-ВР is implementing four projects. In 2012, average daily production within the largest of these projects – JV PetroMonagas (ТNК-ВР's share – 16.7%) increased by 20% to 145 k bbl/day, and annual production exceeded 50 mln boe. In Vietnam TNK-BP is developing the Lan Tay and Lan Do fields, where ca. 4.4 bcma of gas is produced. The Brazilian project Solimoes is currently at the stage of exploration. In 2013, seismic will be shot here and exploration drilling will be continued.
"The international expansion is a new area of the Company development. Participating in international projects will allow us to gain invaluable experience, test many unique technologies, which in the future will be adapted and efficiently used in Russia," said Boris Zilbermints, Senior Vice President, International Projects and Business Development in his interview to the Novator corporate
magazine.
Source: TNK-BP
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