Surgutneftegas plans to keep oil and gas extraction at the previous level in the coming 5 years

​Surgutneftegas plans to keep oil and gas extraction at the previous level in the coming 5 years, the head of Surgutneftegas, V. Bogdanov, said.

Our strategy is to keep the level of recovery. By means of that we increase the oil extraction coefficient, he said. Currently Surgutneftegas has the highest level of oil recovery in Russia.

He said that Surgutneftegas has an opportunity to significantly increase the extraction but there is no sense in it even with the high oil price. The prices and taxes are growing, he added.

Mr. Bogdanov called the company’s extraction level in 2015 to be optimal – 61.6 mln tons. In 2015 Surgutneftegas produced 9.487 bln cubic m of gas.

He said that Surgutneftegas doesn’t plan t reduce the investment program on oil extraction and al the planned projects will be financed. In 2015 the investment of Surgutneftegas into oil extraction exceeded 260 bln roubles.