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Rosneft’s Russkoye field to be launched in 2018

December 14, 2016, 10:40 UTC+3

Earlier the plan was to launch the field in 2017

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NOVY URENGOY, December 14. /TASS/. Rosneft’s Russkoye field in Russia’s Yamalo-Nenets Autonomous Area with recoverable reserves exceeding 420 mln tonnes of oil will be launched in 2018, director general of Tyumenneftegaz (Rosneft subsidiary, which holds the exploration license) Andrey Mukhachev said Wednesday.

Earlier the plan was to launch the field in 2017.

"The launch of the Russkoye field is planned for 2018," he said.

The production is expected to be 1.3 mln tonnes of oil in the first year of the field’s development with further stable growth. "The development cycle is until 2150. In 2018, we’re getting to 1.3 tonnes of oil and will add around 1 mln tonnes of oil each year until 2023," Mukhachev said.

Tyumenneftegaz has produced 750,000 tonnes of oil in this field since 2007. The plan is to produce more than 230,000 tonnes by the end of this year.

Russkoye field is considered to be a unique field in terms of reserves. Its АВС1+С2 geological oil reserves total around 1.4 bln tonnes, recoverable reserves amount to 422 mln tonnes, according to Rosneft.

Foreign investors, including Chinese Sinopec and Indonesian Pertamina are interested in the development of the field, Rosneft said.

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