Novatek: Yarudeyskoye Oil Field Reaches Production Capacity

OAO Novatek announced Tuesday that the Yarudeyskoye oil field in Russia has reached its planned production capacity of 9,700 tons (69,287 barrels) of crude oil per day.

The figure is equivalent to approximately 3.5 million tons (25 million barrels) per annum. Twenty-four production wells are currently in operation at the field, with the average flow rate exceeding 400 tons (2,857 barrels) of crude oil per day, per well.

Leonid V. Mikhelson, chairman of the management board of Novatek, commented in a company statement:

“The Yarudeyskoye field was launched in December last year and it has ramped up to its full production capacity in a record short period of time as planned. The new volumes of crude oil produced at this field will positively impact the dynamics of our production in 2016 and will contribute substantially to our free cash flow generation”.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Polarcus Bags Broadband 3D Marine Seis... (Sep 23)
 -  PETRONAS Signs Contract with Schlumber... (Sep 23)
 -  Valmec Clinches Supply, Construction C... (Sep 23)
 -  Tullow Oil Confirms Turret Bearing Cov... (Sep 23)
 -  Sound Renegotiates Sidi Moktar Acquisi... (Sep 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
United States Zanesville: Principal Drilling Fluids Engineer
Expertise: Drilling Engineering
Location: Zanesville, OH
 
Senior Reservoir Engineer Job
Expertise: Reservoir Engineering
Location: Houston, TX
 
Senior Geologist
Expertise: Production Engineering
Location: Texas, TX
 
search for more jobs

Brent Crude Oil : $45.89/BBL 3.69%
Light Crude Oil : $44.48/BBL 3.97%
Natural Gas : $2.96/MMBtu 1.00%
Updated in last 24 hours