ISSN 2330-717X

Russia: Vankor Oil Output Exceeds Planned Volumes By 218,000 Tonnes

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Vankorneft, a Rosneft subsidiary, produced 3.968 million tonnes of oil in the first quarter of this year (as of 27.03.2012), which is 218,000 tonnes (6%) more than targeted in the business plan. This also represents a 21% increase year-on-year (of 690,000 tonnes).

Over 12.7 million tonnes of oil were produced at the field in 2010, a figure that increased to 15 million tonnes in 2011. In 2012 oil production is planned to reach 18.001 million tonnes.

The Vankor oil and gas condensate field is the largest to be discovered and brought online in Russia in the last 25 years. Vankor is situated in the northern part of Eastern Siberia in the Turukhansk district of the Krasnoyarsk region some 142 kilometres from the town of Igarka. The field covers an area of 416 square kilometres.

Current recoverable reserves in the State Register as of January 1, 2012 stand at 461.126 million tonnes of oil and 165.661 billion cubic metres of gas. PRMS 3P reserves as of December 31, 2011 are estimated at 446.931 million tonnes of oil and 151.693 billion cubic metres of commercial gas.

Vankor is Rosneft’s largest project and one of the largest in Russia today. Commercial production began at the deposit in August 2009. Work is still ongoing to construct the main facilities at the field, including the Central Oil Treatment Facility, which will play an integral role in fulfilling the 2012 business plan.

Oil is transported through the 556 km Vankor – Purpe trunk pipeline. The field is one of the key sources of oil to fill the Eastern Siberia – Pacific Ocean (ESPO) pipeline.

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