Rosneft to Boost Vankor Output to Target in 2013 on ‘Support’

OAO Rosneft, Russia’s biggest crude producer, will boost output at the Vankor field in eastern Siberia to a targeted 25 million tons (500,000 barrels a day) in 2013 because of government “support,” Chief Executive Officer Eduard Khudainatov said.

“The support allowed the project reach profitability in the current macroeconomic environment and helped us develop it at a faster pace,” Khudainatov told Prime Minister Vladimir Putin today via a video link.

Putin has called on oil companies to maintain Russia’s output, currently the highest in the world, at more than 500 million tons a year for at least a decade. The government is revising oil export duties this year to encourage output.

Rosneft will produce 15 million tons of oil at Vankor this year, Khudainatov said. In eastern Siberia, OAO Surgutneftegas plans to produce 5.3 million tons of oil at its Talakan field this year, while TNK-BP plans output of 5.4 million tons at the Verkhnechonsk field.

Verkhnechonsk will plateau at 7.5 million tons in 2016, TNK-BP billionaire shareholder and Executive Director German Khan said via the link.

OAO Transneft, Russia’s oil pipeline operator, will weld the final joint in a link across the region to the Pacific coast tomorrow, company President Nikolai Tokarev said via the link.

Putin is on Russky Island, off Vladivostok on the country’s Pacific coast, for the opening of a gas pipeline from Sakhalin Island today.

To contact the reporter on this story: Anna Shiryaevskaya in Moscow at ashiryaevska@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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