ONGC produces 10% less oil in Siberia in Q1
TOMSK. April 9 (Interfax) - Nord Imperial LLC and Allianceneftegas LLC, which belong to India's Oil and Natural Gas Corporation (ONGC) and operate in Tomsk Region, produced 172,600 tonnes of oil there in the first quarter of this year, a 9.6% drop from the 191,000 tonnes they did in the same three months last year, the two companies' General Director Igor Goncharov told Interfax.
"We've cut back on our investment program this year - there is no new drilling, only for the support of extraction," Goncharov said.
ONGC plans to reduce oil production at deposits in Siberia by 18% this year to 651,000 tonnes.
Nord Imperial is licensed to explore for and produce hydrocarbons at the Festivalny, Snezhny, and Kiev-Yegansky sections, Allianceneftegas at Maisky, Yuzhno-Festivalny #1, #2, and #3, and at Verkhne-Nyurolsky #1 and #2. Production is underway at the Festivalny, Kiev-Yegansky, and Maisky sections at the present time.
The two companies are subsidiaries of Imperial Energy, which in January of 2009 became part of ONGC Videsh Ltd., which manages ONGC's assets abroad.
