Oil production in Russia to increase by about 1% in 2014: analysts expect growth in raw material production by 16 million tons by 2020

In 2014, oil extraction in Russia will increase by about 1% on account of Rosneft’s fields – the Vankor and Uvat, of Surgutneftegaz’s Talakanskoye field and Lukoil’s field n.a. Yuri Korchagin in the Caspian Sea, Alfa-bank’s analyst, Alexander Kornilov predicts.

By the end of the decade, three large deposits, launched in 2013, - the fields of Trebs and Titov in Western Siberia, the Srednesubbotinskoye field in Eastern Siberia and the Arctic Prirazlomnoye field – will help to increase the production by 16 million tons (300 thousand barrels per day). The possible delay of these fields launch and review of target rates make long-term forecasts less exact, analysts note.

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