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."
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
JH
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Review: The Grill at the Dorchester
The Grill at the Dorchester has a new, easy-going atmosphere, but the food is serious: from punchy beef wellington to grown-up tarte tatin, says Dan McEvoy
-
Review: The Hut, Colwell Bay – a seafood lunch with a holiday feel
Travel Getting to The Hut in Colwell Bay on the Isle of Wight is almost as rewarding as actually eating there