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Company in Mass Media

Rus’-Oil planning 20% production growth

16.11.2016. http://isilpress.ru/2016/11/neftyanaya-kompaniya-rus-ojl-namerena-na-20-procentov-narastit-dobychu

Rus’-Oil company intends to increase production by 20% compared to last year’s numbers. Estimated production volume in 2016 is 4.2 million tons – an almost two-fold increase since 2014.

“I think we can make it with four million tons this year. We produced 2.2 million tons in 2014, then 3.5 million in 2015”, TASS reports quoting CEO Sergey Podlisetsky.

The top manager also says the company estimates its current reserves at 300 million tons – enough to reach the target production level.

In 2016, the company purchased six licensing blocks in Khanty-Mansi Autonomous Okrug (KMAO), with the total extractable reserves of about 17 million tons. According to Mr. Podlisetsky, the new oil fields are located close to two older assets, which will definitely have a positive impact on the efficiency of the new projects. “The reason we took part [in the auction – Editor] is that they fit well with our infrastructure. This brings all our fields in nearly a straight line”, the CEO says.

Rus’-Oil, established in 2013, operates several oil fields within KMAO. DeGolyer estimates its extractable reserves at 147 million tons.