By 2014, production at Trebs and Titov will triple

Bashneft is going to triple production to 900,000 tons of oil at the Trebs and Titov deposits by 2014, compared to the plan for 2013. On Tuesday,  Bashneft Polyus, a joint venture of Bashneft and Lukoil  announced the the start of oil production at the Trebs and Titov deposits, and the total yield is awaited at a rate of 300,000 tons of oil this year. Production is executed within the bounds of trial operations at the deposits. Production operations will start in 2016. By 2020, the awaited oil production will stabilize at a level of 4.8 million tons a year. By June 30 2013, total capital investment was 20.4 billion rubles, not taking into account one-time payment for the license of 18.5 billion rubles. The total cost of the realization of the project is 180 billion rubles.

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Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
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