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Company in Mass Media

Rus’-Oil increased production of hydrocarbons by 90% in 2016 – to 4.2 million tons


Wrapping up its operating results for 2016, Rus’-Oil salutes it as a year of many achievements, the company press service reported on 25 January 2017.

2016 was a very challenging year for the entire oil-and-gas industry of our country; but Rus’-Oil managed to grow its reserves and increase production despite low oil prices. Production increased by more than 90% in 2016, compared to 2015: from 2.2 million tons to 4.2 million.

DeGolyer and MacNaughton estimate the company’s extractable reserves at 147 million tons as of October 1, 2016. However, these estimates came in before the company signed confidential management contracts for eight additional assets. These include six licensing sites in Khanty-Mansi Autonomous Okrug, Western-Kolvinsky oilfield in Yamalo-Nenets Autonomous Okrug and Matyushkinskaya Vertikal company. This brings the company’s reserves to about 211 million tons.

Financially the year was also a solid one, with the company investing US $300 million in 2016. This money was used to expand the company’s infrastructure, including the construction of a 150-km long KMAO-Yugra pipeline.

The line connects two oilfields, Gustorechenskoe and Multanovskoe, into a single oil transport system to Yuzhny Balyk oil pumping station.

Built within a record short time – less than 4 months from design to launch, the pipeline is capable of passing up to one million tons of oil a year.