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Rosneft' s Vankor field leads to positive expectations for 2013

BY ALEXANDER KOLYANDR

MOSCOW -- Rosneft expects to increase its output by 1-2% in 2013 mainly due to production growth at its giant Vankor field in Siberia, the company said as it reported its 2102 full year earnings.

In a conference call Dmitry Avdeev, the VP - Finance and Economics, said he expects crude oil production from Vankor to reach between 430,000 - 440,000 bopd, although he neither confirmed nor denied that oil production at the company' s other main fields could decline.  Vankor was the main contributor to Rosneft' s oil output growth of 2.5% to 243 MMbopd in 2012 amid declining output at the company' s other main fields. Higher output and higher oil prices led to a 13% rise in revenue for the year to $102 billion.

Rosneft is buying competitor TNK-BP from BP and its partners in a deal worth $50 billion that will create the world' s largest traded oil producer.

Dow Jones Newswires

02/03/2013

 

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