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Rospan Increased Gas Production by 46% and Gas Condensate Production by 48%

16 January 2017

In 2016, Rospan International, Rosneft subsidiary, increased gas production by 46 % YoY tо reach 6.2 bcm. Gas condensate production increased by more than 48% YoY, to over 1.2 mmt.

The production growth was mainly underpinned by the commissioning of the second train of the gas and gas condensate treatment unit at the Novo-Urengoy license block. The capacity of the process facility was increased to 11 mcm/day of commercial-grade gas and 1,750 t of stable gas condensate. The performance enhancement drivers also include reservoir hydraulic fracturing jobs carried out using the technology of creating high-productivity fractures at the licenses of the subsidiary, ensuring high well rates.

Additionally, the company keeps increasing drilling volumes. The total development well stock went up by 24% compared to the last year and is now 82 wells.

Pursuant to Rosneft gas strategy Rospan is carrying out a full-scale development program, including active construction of a new gas and gas condensate treatment facility at the East-Urengoy license, of a rail loading rack with a tank farm for LPG transshipment, of oil treatment units and other production infrastructure. Upon the launch of the above facilities, the volume of the subsidiary's annual gas production will exceed 19 bcm, annual gas condensate production will be above 5 mmt, and annual LPG production will be more than 1.2 mmt.

Справка:

Rospan International JSC is one of Rosneft key gas assets. Currently the subsidiary has a license for exploration and production of three fields. Aggregate hydrocarbon reserves amount to about 1 tcm of natural gas, 150 mmt of gas condensate and 46 mmt of oil.

In the near term the subsidiary will become a major natural gas production hub of the Company in the Yamalo-Nenets Autonomous Region. This agrees with Rosneft gas business development strategy, according to which the Company plans to become a leader among independent gas producers by 2020, delivering the annual production of 100 bcm. At the same time, the resource potential of the Company supports further production growth.

Rosneft Information Division
Tel.: + 7 (499) 517-88-97
January 16, 2017