Oil companies to increase investment in geological exploration in Khanty-Mansiysk Autonomous District by 5% this year
KHANTY-MANSIYSK. April 5 (Interfax) - Oil companies with operations in the Khanty-Mansiysk Autonomous District will increase investment this year in geological exploration by 1.4 billion rubles in comparison with 2010 to 28 billion rubles, the first deputy director of the district's subsoil use department, Anatoly Protasov, said on Thursday at a meeting of the district's public chamber.
Therefore, company investment in geological exploration in the district will increase by 5.3% this year in comparison with 2011.
Protasov said that 16 billion rubles of these funds will be earmarked for exploration drilling, which is an increase of 4 billion rubles from 2011.
"Implementation of planned operations will help ensure an increase in reserves of 230 million tonnes of industrial grade oil," he said.
It was earlier reported that oil production in the Khanty-Mansiysk Autonomous District went down in 2011 by 1.3% to 262.482 million tonnes while gas output totaled 36.604 billion cubic meters, up 1% from 2010.
A total of 26% of the district's oil reserves have been extracted (48% of the distributed fund of reserves have been extracted).
Total C1 recoverable reserves in the Khanty-Mansiysk Autonomous District come to 189.9 million tonnes while C2 reserves total 402.6 million tonnes.
