Rosneft will have reduced production volumes in 2014

As the Kommersant has got to know, in 2014, Rosneft, the country's largest oil company and the world leader in terms of reserves, will have reduced its oil production by about 2 million tons. After the acquisition of BP-TNK, on the results of 2013, Rosneft managed to increase this figure almost two times to 206.8 million tons, but because of the cost reduction program and conflicts with contractors it reduced its drilling volumes. By 2020, the company intends to reduce the rate of the production decline, but, according to sources of the Kommersant, the drilling of wells should be dramatically increased for this.

On the results of 2014, the Rosneft’s oil production may decrease by 2 million tons, several sources close to the company told the Kommersant. In 2013, after the consolidation of BP-TNK, it was 206.8 million tons of oil, gas condensate and liquid hydrocarbons. "In the middle of this year, the forecast on the reduction was worse - at the level of 2-3 million tons. But the company managed to improve the situation," - said one of the Kommersant’s interlocutors.