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Company in Mass Media

Khortitsa intends to increase oil production seven times

14.09.2016. https://lenta.ru/news/2016/09/14/hortitsa/

According to plans of Khortitsa company that owns Multanovskoe license unit, its oil production by 2019 will achiev 724 thousand tons. It is stated in the company presentation at disposal of Lenta.ru.

It is noted in the document that by the end of 2016, the production at Multanovskoe license unit would be approximately 100 thousand tons, in 2017 already, the oil production was planned to increase by over 500 thousand, by 2018 - 645 thousand tons.

In order to provide gathering and transportation of oil from Multanovskoe field, providing it with a corresponding infrastructure is allowed for. Thus, it is planned for the nearest future to build oil acceptance and transfer unit (ATU). Moreover, the company will build a pipeline that would provide transportation of the produced oil to nearest transportation junctions. Further plans provide for construction of oil pipeline to Transneft system. But this can be mentioned after drawing up of a complete design of Multanovskoe field development.

The managing partner of the Company Advance Capital Karen Dashyan supposes that the company can implement target plans: geology and infrastructure of the field makes it technically possible to increase production significantly at sufficient level of investments - at least 50 million dollars annually.

Multanovskoe oil field is located in the territory of Surgut district of Khanty-Mansiysk Autonomous District of the Tyumen region 85 kilometers to Pyt-Yakh town and 110 kilometers to Surgut. The license for the right to use Multanovskoe license unit belongs to Khortitsa until end of 2035. The company purchased the unit in 2010. The development began in February of 2014.

The estimated volume of investments is approximately one billion rubles. It is noted in the document that the field is in the area with poor infrastructure - absence of railway and automobile communication. As of 2016, confirmed extractable reserves are estimated 15.3 million tons of oil. Data are confirmed by DeGolyer and MacNaughton. The produced oil is being sold in the domestic market. In particular, by Transneft system it is supplied to Moskovsky and Novoshakhtinsky oil refineries.