Lukoil-Western Siberia plans to hold production at 43-44 mln tonnes per yr for 5 yrs
KHANTY-MANSIYSK. Sept 5 (Interfax) - Lukoil-Western Siberia LLC plans to extract 44-44.2 million tonnes of oil this year, company General Director Azat Shamsuarov said during an interview with Interfax.
The company's website says that it produced 47 million tonnes of oil in 2010.
"We will finish this year with a small increase over planned figures at the level of 44-44.2 million tonnes of oil. And I hope that he enterprise Lukoil-Western Siberia with its extant resource base will continue to extract at a level of 43-44 million tonnes over the next five years," Shamsuarov said.
After the launch of a new deposit in Yamal, he said, the ratio of extracted hydrocarbon volumes will change, with the volume of gas produced increasing.
"This is the availability of about 4.5-5 billion cubic meters of gas to that extracted at the Nakhodkinskoye deposit. The introduction of the subsequent deposits will lead to an even larger increase in the proportion of natural gas extracted in relation to liquid hydrocarbons," he said.
Lukoil-Western Siberia estimates its costs in stabilizing oil extraction at 120 billion rubles.
"It cannot be said that we have separate programs for stabilization and that it is separately financed. All the company's efforts are aimed at stabilizing oil production. Where in 2008 the drop was at the level of 8%, in 2010 we were at the level of 4.5%-5%, and today that figure is 1%. The pool of investment and operational expenses amount to 120 billion rubles," Shamsuarov said.
Lukoil-Western Siberia figures that the decrease in oil production in 2012-2013 will be within 1% per year.
Lukoil-Western Siberia LLC is one of the biggest oil-sector enterprises working deposits in the Khanty-Mansiysk and Yamal-Nenets Autonomous Districts. More than 50% of Lukoil's oil and gas extracted by the western Siberian holding. The bulk of oil produced comes from Khanty-Mansiysk Autonomous District, and the company produces natural gas in Yamal.