TNK-BP Plans to Bring Orenburgneft OJSC Oil Production up to 27 Million Tons by 2016

Апреля 05, 2010

Alexander Berman, Director General of Orenburgneft OJSC (member of the TNK-BP Group), says that the optimal operational growth option will bring oil production to 27 million tons in 2016 while the maximum option will deliver 35 mil tons in 2017 (17.3 mil tons in 2008, 18.4 mil tons in 2009, 19.8 mil tons planned in 2010).

These figures may be hard to believe in just yet, however, as Alexander Berman claims, prospects for oil production in the Orenburg region are really not poor. A state-of-the-art tool, which the enterprise has adopted, will make all the difference. The name of this tool is “comprehensive project”. Today it allows to make correct estimates at relatively high probability of production and reserves levels and build a long-term strategy based on those. This strategy involves a number of components. The first and primary driver of development is growth of reserves, the second one is sensible wellwork including workovers, the third one is increased scope of drilling, as well as science-based management of recovery rates. “The Orenburg OJSC management has many plans but they are all realistic”, believes Alexander Berman.