Russian crude production rises to post-soviet high
October 3, 2009 - 0:0
MOSCOW (Bloomberg) -- Russia, the world’s biggest energy supplier, increased oil output 1.7 percent to a post-Soviet high in September from a year earlier after OAO Rosneft, Russia’s largest crude producer, brought a new field on line in August.
Russian oil production rose to 10.01 million barrels a day from 9.84 million barrels a day last year, the Energy Ministry’s CDU-TEK unit said in an e-mailed statement on Friday. Russia produced 9.97 million barrels a day in August.Russian crude oil reached the record on the back of month- on-month growth rates delivered mainly by Rosneft and TNK-BP, Citigroup Inc. wrote in a research note.
Total crude exports climbed to 5.47 million barrels a day, an increase of 4 percent from the same month last year, and 0.6 percent from the previous month.
Output at Rosneft increased 4.8 percent against the same month last year to 2.4 million barrels a day with the addition of the Vankor field, which may become one of the world’s 10 largest fields, based on a list of major deposits compiled by Cambridge Energy Research Associates. The state-controlled company plans to pump 220,000 barrels a day at the northern Siberian field by the end of this year and will more than double output to 510,000 barrels a day at peak production.
TNK-BP output rose 3.5 percent higher than the same month the previous year to 1.44 million barrels a day.
---------------Production sharing
Oil pumped at projects under so-called production sharing agreements, set up by Royal Dutch Shell Plc, Exxon Mobil Corp. and Total SA, increased 8.6 percent from the previous month and 7.5 percent from the previous year.
“Surgutneftegas was 0.4 percent lower despite the record drilling footage it reported recently,” Citi said of Russia’s fourth-largest oil producer. Surgut pumped 1.2 million barrels a day, 2.4 percent less than a year ago as its main producing deposits move into decline.
Russian natural gas output rose to 45.5 billion cubic meters in September from 43.5 billion cubic meters in August.
OAO Gazprom, the world’s largest gas producer, produced 35.97 billion cubic meters in the month. Demand for Russian gas in Europe, its main money making market, was stabilizing, the Moscow-based company said in an e-mailed statement following a meeting with E.ON AG.
The Soviet Union collapsed in 1991, a year in which Russia produced 9.33 million barrels a day, a level not reached again until 2005, according to BP data.