Russia’s Rosneft Q2 gas output up 13.3% on year to 15.29 Bcm

日期:2015-09-01 21:17:32
Rosneft_new.jpgRussia’s biggest crude producer Rosneft increased hydrocarbons output by 2.9% in the second quarter, despite continuing to post a slight decline in crude production.

Rosneft produced 5.15 mil b/d of oil equivalent of hydrocarbons in Q2, including 4.126 mil b/d of crude, down slightly by 0.15% year on year, and 15.29 Bcm of gas, up 13.3% on the same period in 2014.

Rosneft has recently been the only major crude producer to post a continuing fall in crude output, due to natural decline at its existing fields in West Siberia.

But the company’s Q2 figures show that it may be on the verge of reversing this trend, showing a much more positive production profile than preliminary energy ministry data released earlier. This indicated that the company’s crude output fell 1% in January-April, 0.9% in January-May and 0.9% in January-June.

Rosneft said that “in conditions of negative macroeconomic environment the company is aiming at restraining the decline in daily crude oil production rates at brownfields through the development of its own drilling business and the implementation of wellworks program throughout the year.”

It has markedly increased production drilling this year, upping production drilling meterage by more than 30% compared to the first half of 2014, and putting into use more than 800 new wells, the company said in management analysis released alongside the results.

Rosneft’s overall hydrocarbons production has been growing due to a number of new gas projects.

In the first half of the year Rosneft’s gas production increased by 16.4% year on year, which the company put down to putting new gas wells and facilities into operation in the second half of 2014.

Rosneft slightly increased refining output, by 0.55% to 23.75 mil mt in the second quarter.

Its overall processing in the first half of this year was down 0.8% to 48.09 million mt, “due to a temporary halt of processing at the Mozyr refinery under a processing agreement in Q1 2015 accompanied by re-allocation of crude oil to higher marginal trading channels in Q1 2015,” the company said.

Source: Platts

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