Tomskaya Neft to increase '09 Production 18.6%

March 10, 2009

(RussNeft) - Tomskaya Neft, a RussNeft subsidiary, plans to increase oil production by 18.6% over last year. The up to 268,689 thousand tons of oil will be achievable with the help of eight new wells scheduled for drilling at Stolbovoye oil-field in 2009.

Last year, the company put four wells into operation at Verkhne-Salatomskoye oil-field, but actual daily capacity turned out to be well below the amount expected. Well № 144 produced only 11.6 tons of oil per day as compared to the prospective production level of 20 tons per day. The result, oil production volume at new wells in 2008 made 6,326 thous. tons.

This year, Tomskaya Neft will reconsider field development simulation models to produce a minimum of 76,329 thous. tons from new wells. In addition to drilling, the company will invest in site construction and equipment.

Tomskaya Neft holds licenses for geological surveys, oil and gas production at Yuzhno-Maldzhinskoye, Stolbovoye, Grushevoye, Fedyushinskoye, Duklinskoye, Poselkovoye and Sobolinoye subsurface sites in the Tomsk Region.

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