TNK-BP May Channel RUR 500 Million to Develop New Fields in the Saratov Region
04 Feb 2004
TNK-BP petroleum company plans to funnel approx. RUR 500 million to drilling and prospecting in the Saratov Region in 2004, if it obtains the license to develop new fields. Such figures were voiced by Vladimir Meshkov, Head of the company''s Saratov Branch, at a meeting of heads of industrial enterprises and the Saratov Region Administration. Vladimir Meshkov pointed out that the Saratov Region is top priority for TNK-BP, given the availability of the full-cycle production in the oil and gas sector in the region - both downstream and upstream. In 2003, the company''s enterprises transferred RUR 10.8 billion in taxes to the consolidated regional budget. According to Vladimir Meshkov, Saratovneftegaz OJSC lifted 1.8 million tons of oil in 2003, a 17% growth on 2002 output. He highlighted that the region has not seen such strong growth in oil output for 42 years. The idea is that the joint stock company will step up production of oil and condensate by 14%, and that of natural and associated gas, by 6.5%, in this year as compared with 2003. Head of the branch reminded that the agreement between the regional government and TNK-BP signed on January 27, 2004, envisages a series of measures that gear toward greater gas recovery rate. For instance, the company is going to start constructing the second stage of the comprehensive gas treatment unit in the Razumov field, which will result in boosting the recovery rate to 82% by the end of 2004. Vladimir Meshkov did not specify, though, the scope of construction funding. He also informed that the Saratov Refinery OJSC stepped up refining by 2.2% on 2002, to 4.7 million tons of oil. Refining rate increased from 55.7% to 60.7%. Additionally, Vladimir Meshkov said that Saratovnefteproduct OJSC supplied 130,000 tons of diesel fuel to agricultural producers during spring field work and harvest gathering in 2003. In 2004, the scope of deliveries will at on a level with 2003, he added. As announced earlier, TNK-BP and the Saratov Region Government concluded the cooperation agreement on January 27, 2004. Three subsidiaries of SIDANCO petroleum company, which was incorporated into TNK-BP, are located in the Saratov Region - Saratovneftegaz OJSC, Saratovnefteproduct OJSC, and Saratov Refinery OJSC. Источник INTERFAX
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