Bashneft seen getting first oil inflow at Trebs, Titov fields 2012

MOSCOW, Aug 30 (PRIME) — Russian oil major Bashneft is expected to receive the first inflow of oil at the Trebs and Titov fields in Russias Nenets Autonomous District in 2012, the press office of the regional authorities said Tuesday.

The statement follows a meeting between Bashneft CEO Alexander Korsik and the districts Governor Igor Fyodorov on Monday.

Bashneft is currently carrying out seismic and geological tests at the fields.

Bashneft had earlier expected to receive the first inflow of oil at the fields in 2013, while the maximum annual oil output of 8 million tonnes was expected to be reached in 20182019.

Bashneft is jointly developing the fields with Russian oil company Lukoil. Bashneft received the license to develop the fields in late February. In April, Lukoil received a 25% stake in a joint venture with Bashneft to develop the fields.

The recoverable reserves of the Trebs field are estimated at 82.469 million tonnes of oil, while the recoverable reserves of the Titov field are estimated at 57.590 million tonnes of oil under C1 and C2 categories.


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