Russian Oil Production Research - WikiLeaks



Russian Oil Production Research 7/7/08

Russian Oil Company General Stats:

Rosneft: In 2007, Rosneft became the largest oil producer in Russia. The Company’s output1 totaled 740 mln. barrels (101.2 mln. tonnes) of crude oil and gas condensate, and 15.7 bcm. of gas, up 27.0% and 15.6%, respectively, compared to 2006. This significant increase in output was driven by Rosneft’s new acquisitions and sustained organic growth. The share of assets acquired in 2006—2007 in Rosneft’s total output growth was 119 mln. barrels (16.3 mln. tonnes) of crude oil and 1.2 bcm. of gas, while the organic increase in hydrocarbon production equaled 6.6%.

|  |2005 |2006 |2007 |

|  |

|Crude oil production1 |

|th. tonnes |73,874 |79,658 |101,157 |

|mln. barrels |540.39 |582.70 |739.97 |

|  |

|Gas production1, mcm. |13,029 |13,584 |15,705 |

|  |

|Operating well stock, units |15,023 |18,931 |22,663 |

|  |

|Average flow rate of production oil wells, barrels per day |101 |109 |94 |

|  |

|Average flow rate of new production oil wells, barrels per day|589 |714 |713 |

|  |

|Production drilling, th. meters |1,064 |1,398 |2,611 |

|  |

|New production oil wells, units |218 |280 |648 |

|  |

|Upstream production and operating expenses, USD per barrel |2.49 |2.83 |3.48 |

|of oil produced | | | |

1 — Including production of subsidiaries and Rosneft’s share in affiliates.

LukOil: Oil and Gas Reserves

|According to the data audited by Miller and Lents (USA), LUKOIL’s proved reserves as at January 1, 2007 are estimated at 20.360 |

|billion barrels of oil equivalent (boe), including 15.927 billion barrels of oil and 26.597 trillion cubic feet of gas. |

|Reserves category |

|Oil |

|(million barrels) |

|Gas |

|(billion cubic feet) |

|Total (million barrels of oil equivalent*) |

| |

|Proved reserves |

|Including: |

|Developed |

|Undeveloped |

|15,927 |

|  |

|10,176 |

|5,751 |

|26,597 |

|  |

|7,480 |

|19,117 |

|20,360 |

|  |

|11,423 |

|8,937 |

| |

|Probable reserves |

|8,767 |

|21,436 |

|12,340 |

| |

|Possible reserves |

|4,275 |

|10,479 |

|6,022 |

| |

| |

| |

Production

|Crude oil production by LUKOIL Group (including share of production by equity affiliates) in 2007 totalled 96.645 million tones |

|(1.953 million barrels per day), of which 94.147 million tonnes were produced by Company subsidiaries. The Company’s average |

|daily crude production level rose by 1.4% compared with 2006. |

|LUKOIL Group Oil Production by Regions, million tonnes |

|  |

|2004 |

|2005 |

|2006 |

|2007 |

| |

|Total |

|86.200 |

|90.158 |

|95.235 |

|96.645 |

| |

|Russia |

|82.720 |

|86.277 |

|89.561 |

|91.100 |

| |

|Western Siberia |

|56.351 |

|58.469 |

|59.764 |

|59.917 |

| |

|Urals |

|10.082 |

|10.307 |

|10.923 |

|11.257 |

| |

|Volga |

|3.175 |

|3.210 |

|3.214 |

|3.240 |

| |

|Timan-Pechora |

|11.732 |

|12.476 |

|13.601 |

|14.576 |

| |

|Other |

|1.380 |

|1.815 |

|2.059 |

|2.110 |

| |

|International |

|3.480 |

|3.881 |

|5.674 |

|5.545 |

| |

Oil transportation

|Page (1/2) |

|1 |

|2 |

|[pic] |

| |

|[pic]Oil transportation |

| |

|Oil exports by LUKOIL subsidiaries fromRussia (including oil acquired from other producers) decreased by 3.7% in 2006 compared with 2005, to |

|44.13 million tonnes. Exports to the far abroad countries were 39.79 million tonnes, and exports to the near abroad countries were 4.34 |

|million tonnes. The Company carefully managed its export routes in 2006, giving preference to the most profitable. Main export routes were |

|via the ports of Primorsk and Novorossiysk, which accounted for 46% of exports by the Company (31% in 2005). A further 21% of exports (19% in|

|2005) were to Germany and Poland through the Druzhba pipeline. Due to changes in the economic environment exports via the CPC system (Caspian|

|Pipeline Consortium) were completely halted in 2006. LUKOIL made no crude exports in 2006 via the ports of Vysotsk, Butinge and Vitino or by |

|rail to China. |

| |

| |

|th. tons |

| 2003 |

|2004  |

|2005  |

|2006  |

| |

|Export and sales on international markets |

|37,751 |

|46,030 |

|45,916 |

|41,017 |

| |

|   including export and sales to near-abroad countries |

|4,069 |

|4,076 |

|3,254 |

|2,958 |

| |

|Domestic sales |

|5,979 |

|1,637 |

|672 |

|1,823 |

| |

|Total |

|43,730 |

|47,667 |

|46,588 |

|42,840 |

| |

| |

| |

| |

| |

| |

| |

|Export of crude oil using Transneft export routes |

|32,763 |

|38,909 |

|38,529 |

|41,478 |

| |

|Export of crude oil bypassing Transneft |

|5,367 |

|7,389 |

|7,288 |

|2,655 |

| |

|Total crude oil exports |

|38,130 |

|46,298 |

|45,817 |

|44,133 |

| |

| |

|[pic]Petroleum product sales |

| |

| |

|In 2006 LUKOIL exported 20.5 million tonnes of petroleum products from Russia to near and far abroad countries (23.5% more than in 2005), of |

|which 37.4% was diesel fuel, 28.6% was fuel oil, 19.3% was vacuum gasoil, 5.0% was straight-run gasoline, 3.3% was oils and lubricants and |

|6.4% consisted of other products. |

| |

| |

|th. tons |

| 2003 |

|2004  |

|2005  |

|2006  |

| |

|Export and sales on international markets |

|33,995  |

|41,426  |

|56,666  |

|64,729  |

| |

|   Wholesale |

|30,193  |

|35,946  |

|49,549  |

|57,558  |

| |

|   Retail |

|3,802  |

|5,480  |

|7,117  |

|7,171  |

| |

|Domestic sales |

|20,473  |

|19,724  |

|19,970  |

|19,150  |

| |

|   Wholesale |

|17,967  |

|16,981  |

|16,421  |

|15,155  |

| |

|   Retail |

|2,506  |

|2,743  |

|3,549  |

|3,995  |

| |

|Total |

|54,468  |

|61,150  |

|76,636  |

|83,879  |

| |

| |

|[pic]Petroleum product export, % |

| |

|2003 |

|2004 |

|2005 |

|2006 |

| |

|Naphta |

|4.1 |

|4.7 |

|4.0 |

|5.0 |

| |

|Diesel fuel |

|40.5 |

|40.1 |

|39.2 |

|37.0 |

| |

|Vacuum gas oil |

|11.0 |

|14.2 |

|19.2 |

|19.3 |

| |

|Fuel oil |

|29.5 |

|28.0 |

|29.2 |

|28.6 |

| |

|Lubricants |

|4.4 |

|4.4 |

|3.5 |

|3.3 |

| |

|Other |

|10.5 |

|8.6 |

|4.9 |

|6.4 |

| |

|Petroleum product exports from Russia , mln tons |

|13.5 |

|14.1 |

|16.6 |

|20.5 |

| |

[pic]Petroleum product export by transport types,%

| |2003 |2004 |2005 |2006 |

|Rail |62.5 |64.6 |75.5 |82.9 |

|River |18.4 |22.3 |18.4 |13.4 |

|Pipeline |19.1 |13.1 |6.1 |3.7 |

Oil Company Breakdown:

Rosneft: Yuganskneftegaz- Rosneft’s largest oil-producing enterprise. It holds licenses to develop 26 oilfields located in the Khanty-Mansiysk Autonomous District of Western Siberia. Yuganskneftegaz was established in 1977, and in early 2005, it was fully integrated into Rosneft’s core production base. Yuganskneftegaz is responsible for fields that contain approximately 16% of Western Siberia’s recoverable oil reserves. Nearly 80% of them are concentrated in the Priobskoye, Mamontovskoye, Malobalykskoye and Prirazlomnoye fields. The region’s oilfields have serious potential to experience increases in hydrocarbon reserves through additional exploration and lower-lying strata and those previously overlooked during earlier stages of Western Siberia’s development. The reserves-to-production ratio at Yuganskneftegaz is equal to 28 years, which is well above the average of 15 years for the global industry. The fields at Yuganskneftegaz are integrated into the region’s transport infrastructure. Oil produced is transported via the nearby Ust-Balyk-Omsk pipeline, which belongs to Transneft, either for export or sales on the domestic markets.

2006. Proved oil reserves mln. tonnes 1 561.796

mln. barrels 11 363,96

2006 Probable oil reserves mln. tonnes 681.874

mln. barrels 4 959.61

2006 Possible oil reserves mln. tonnes 517.004

mln. barrels 3 789.62

2006. Prospective oil resources (mln. barrels) 1 764

Purneftegaz: Rosneft’s second largest production enterprise and an integral part of its resource and production base, Purneftegaz was established in 1986 in the Yamalo-Nenets Autonomous District of Western Siberia, near the town of Gubkinsky. In 2006, Purneftegaz was engaged in development and production of oil, gas condensate and natural gas at 14 fields. Reserves at Purneftegaz are highly concentrated. Seventy-two percent of its oil reserves are concentrated at only four fields…Purneftegaz’ fields are also located in close proximity to railways, which connect the Pur-Pe station with Surgut. Rosneft uses this route to transport gas condensate produced by Purneftegaz and Selkupneftegaz, which allows the Company to avoid mixing the product with oil from other producers using the Transneft pipeline.

Primary fields: Kharampur, Tarasovskoye, Barsukovskoye, Komsomolskoye

2006 Proved oil reserves (mln. barrels) 1 869.45

2006 Probable oil reserves (mln. barrels) 1 385.29

2006 Possible oil reserves (mln. barrels) 1 989.66

2006 Prospective oil resources (mln. barrels) 1 671.12

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