Surgutneftegaz to reduce APG production

According to Surgutneftegaz’s forecast in the report for the 4th quarter f 2013, in 2014 the company will maintain rate of the oil production at the level of 61.4 million tons; 7.7 million tons of them will be produced at the Eastern Siberian fields.

At the same time, the gas extraction will decline to 9.2 billion cubic meters or by 23% as compared with 2013. The company connects the reduction of the APG production in 2013 with fall of oil recovery rate at Western Siberian blocks with high gas content characteristic. The structure of the APG production will also change – the share of “blue fuel” with heavy hydrocarbons will increase that will make its production and further use more complicated.