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Rosneft to increase gas production to 100 bln cubic meters a year

In 2012, the production of natural and associated gas grew by 28.1% to 16.39 billion cubic meters

TYUMEN, August 12 (Itar-Tass) - Rosneft oil company is planning to increase gas production to 100,000 million cubic meters a year by 2020. Gas reserves monetization is a strategic priority of the Company, according to Siberian regional public relations department, a branch of the OAO "RN Management" public joint-stock company.

The company consistently implements a program for a systematic increase in gas production amounts. In 2012, the production of natural and associated gas grew by 28.1% to 16.39 billion cubic meters.

A great merit in implementing these plans has the subsidiary Rospan International which is developing the Achimovka gas condensate deposits in the East Urengoi and Novo-Urengoi license areas on the Yamal Peninsula. The aggregate reserves of hydrocarbon fuel in those areas amount to about one trillion cubic meters of natural gas, 150 million tons of gas condensate, and 46 million tons of oil.

In 2012, thee enterprises produced 3.5 billion cubic meters of gas, 663,000 tons of gas condensate. Rosneft intends to boost gas production by Rospan up to 5.5 billion cubic meters by 2016 and up to18 billion by 2018. An integrated project for full-scale development of the Novo-Urengoi and East Urengoi license areas has been drawn up to implement these plans.

Under the project, 285 development gas condensate wells and 18 oil ones are to be drilled and provided with surface facilities. Installations for comprehensive gas separation, stabilization of condensate, and oil preparation, a railway oil terminal and a large number of pipelines of various purposes are to be built as well.

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