Things heating up in Siberia for Ruspetro

West Siberia-focused oil and gas group RusPetro is on track to meet its end-year target of achieving 10,400 barrels of oil per day (bopd) after ramping up production in the last couple of months.

West Siberia-focused oil and gas group RusPetro is on track to meet its end-year target of achieving 10,400 barrels of oil per day (bopd) after ramping up production in the last couple of months.

Since the end of August, crude production has been running at 5,493 bopd while higher value condensate production has been running at 2,360 bopd, even though 1,500 barrel per day of condensate production has been lost while the group upgrades production facilities. The facilities are expected back on line before the end of the year.

Don Wolcott, Chief Executive Officer, said, "I am pleased to announce we have now entered a phase in which production is picking up strongly as more wells come on-stream. We have demonstrated our ability to increase the pace of well completions, with more wells planned before year-end which will include a significant contribution from the higher-value condensate production in the north east area of the field."

JH

Recommended

The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
2 Feb 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
23 Jan 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023
Investing trends to watch out for in 2023: what analysts say
Investment strategy

Investing trends to watch out for in 2023: what analysts say

What are sensible strategies for high inflationary times? We ask analysts to find out.
22 Dec 2022

Most Popular

Best savings accounts – February 2023
Savings

Best savings accounts – February 2023

Interest rates on cash savings are making a comeback. We look at the best savings accounts on the market now
3 Feb 2023
The best one-year fixed savings accounts - February 2023
Savings

The best one-year fixed savings accounts - February 2023

Earn almost 5% on one-year fixed savings accounts.
3 Feb 2023
After slumping 42% last year, what's next for Scottish Mortgage?
Investment trusts

After slumping 42% last year, what's next for Scottish Mortgage?

After a spectacular couple of decades, the Scottish Mortgage Investment Trust fell by 42% last year. We take a look at the trust's performance and dis…
3 Feb 2023