Russia’s Gazprom Neft to send first tanker with oil from Prirazlomnoye in Q1 2014

February 6, 2014

Gazprom Neft plans to send the first tanker with oil from the Prirazlomnoye field to international markets in the first quarter of this year, Itar-Tass reported on February 5.

The company’s Deputy CEO Vadim Yakovlev said at a news briefing on February 5 that 300,000 tonnes would be shipped to Rotterdam from Prirazlomnoye in 2014 - one tanker every quarter.

The oil will be traded at a discount to the Urals blend. Initially it will be sold to refineries in the Netherlands, Norway and Great Britain at spot prices. In the future, Gazprom Neft plans to use accumulation facilities for optimising oil exports.

Gazprom will assign its stake in Prirazlomnoye to Gazprom Neft under an instalment payment plan, which includes the cost of the platform and payments from operating income. Past costs are estimated at 90 billion roubles.

The Prirazlomnoye field contains 72 million tonnes of oil reserves enabling to achieve the annual production level of 6.6 million tonnes.

Copyright: Itar-Tass, 2014