Gazprom Neft to Begin Venezuela Output Later Than Deputy PM Date
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OAO Gazprom Neft will begin output at a joint venture with Petroleos de Venezuela SA in the South American nation in August, three months later than a target set by the Russian Deputy Prime Minister Igor Sechin last October.
“We have gained all permits and begun drilling,” said Alexander Dyukov, chief executive officer of the oil arm of Russia’s natural-gas export monopoly, on state-run Rossiya 24 television today. “In August we will produce first oil and in the summer of 2013 reach 50,000 barrels a day.” By 2018 production should reach a daily 450,000 barrels, he said.