TNK-BP's Varyeganneftegaz to reduce oil output 17% in 2012
KHANTY MANSIYSK. June 20 (Interfax) - OJSC Varyeganneftegaz, an upstream subsidiary of oil company TNK-BP in the Khanty Mansiysk Autonomous District, plans to reduce oil production by 16.8% to 1.662 million tonnes in 2012, the company said in a report.
Varyeganneftegaz reduced oil production by 21.4% to 1.997 million tonnes in 2011.
The company plans to launch 15 new wells this year, one more than in 2011.
The number of production wells at the company decreased by 0.7% to 1,269 in 2011, and the number of injections wells dropped by 8.9% to 494. The number of active wells rose by 5.3% to 669 at the end of 2011.
Varyeganneftegaz has five fields in four license blocks: Bakhilovskoye, North Khokhryakovskoye, Verkhnekolik-Yeganskoye, Suslikovskoye and Mitrofanovskoye, which has not yet under development.
TNK-BP Holding owns 85.04% (96.94% of common shares) of Varyeganneftegaz.