Rosneft's Vankor field leads to positive expectations for 2013

2/3/2013

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

Related News ///

FROM THE ARCHIVE ///

Comments ///

comments powered by Disqus