Russian Producer Announces Boost

TNK-BP, the Russian energy company part owned by British major BP,  has reported that its subsidiary OJSC Orenburgneft produced 3.4 billion cubic meters of gas in 2012, which is 26% more than in 2011.

TNK-BP has been implementing a large-scale program aimed at production development in the mature fields of the Orenburg Region, one of the oldest petroleum provinces in Russia which has been exploited for over 75 years. In 2012, TNK-BP invested over 34 billion rubles (€830 million) in the hydrocarbons production development in the region and plans to increase investment to 35.6 bn rubles in 2013.

“Orenburgneft takes consistent efforts to efficiently develop its assets. Commissioning of new fields and application of state-of-the-art technologies for the development of brownfields are the main drivers for the long-term exploitation of the oil and gas resources in the Orenburg region – one of the key regions for TNK-BP,” said Igor Rustamov, general director, OJSC Orenburgneft.