Rosneft production hits 285.5 million tonnes of oil equivalent in 2019

Rosneft said its 2019 hydrocarbon production amounted to 285.5 million tonnes of oil equivalent, while the average daily production was 5.8 million b/d.

Rosneft chief executive officer Igor Sechin reported the company’s operating results as well as prospects of the Vostok Oil project to Russian President Vladimir Putin, the company said Feb. 11.

In his report, Sechin said that in 2019, almost 3,000 lin km of 2D seismic surveying and 11,300 sq km of 3D surveying was carried out, an increase of 12.3% from the previous year. “According to current estimates, the testing of 144 exploration wells will be completed on land with a success rate of almost 90%,” Sechin said.

In 2019, the volume of oil and gas condensate processing amounted to 110 million tonnes, including over 10 million tonnes at the company’s international oil refineries, Sechin said.

In 2019, Rosneft continued cooperation with the final consumers by extending long-term contracts to deliver oil via the Druzhba pipeline in the direction of Poland, the Czech Republic, and Germany.

“We have even increased our ownership in Bavaria at the Bayernoil refinery. We have supplied 83 million tonnes of oil to Germany since 2016, which accounts for 25% of their total oil imports,” Sechin said (OGJ Online, Jan. 21, 2020).

Also, noted Sechin, to ensure cargo flow along the Northern Sea route, Rosneft and its partners are forming a new oil and gas province in the country’s north, on Taimyr Peninsula—Vostok Oil. Resource potential is over five billion tonnes of oil, Sechin said.

Some two trillion roubles of an estimated total investment of 10 trillion roubles will be allocated at the first stage of the project.

About 400 km north of Vankor, the project includes two large fields, Payakhskoye and Zapadno-Irkinskoye. In all, the project features the creation of 15 towns to house oilfield workers; two airports; a seaport; some 800 km of line pipes; some 7,000 km of infield pipes; 3,500 km of electrical lines; 2,000 MW of electric power; and about 100,000 new jobs, Sechin detailed.

“We are currently working with Indian companies; they are showing interest in the project. There are also some other Western investors. We believe Vostok Oil can become a large-scale international project,” Sechin said.