Gazpromneft to increase its production to 60 mln tons due to projects in Russia and Iraq

In 2016, Gazpromneft has planned to increase its oil production by 8% to 59-60 million tons due to the development of new projects in Russia and Iraq. The company intends to maintain the further production growth due to the new tax system and enhanced oil recovery technologies, including shelf and difficult reserves, fell under the sanctions. Gazpromneft looks for partners for the development of such projects, but they haven’t brought obvious results for a while.

In 2016, Gazpromneft plans to increase the oil production by about 8% to 59-60 million tons, said the company’s head Alexander Dyukov. According to him, the growth will come from new projects. In particular, Gazproneft wants to increase the production at the Prirazlomnoye field from 0.9 million tons to more than 2 million tons of oil equivalent per year, from the Iraqi Badra field - from 1.4 million to 2.6 million tons, and to launch the East-Messoyakhskoye filed in September. Another capital-intensive project was the launch of the Novoportovskoye field and export terminal this year (the investment was 186 billion rubles).