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Tyumen Oil Company planning to increase production volume

Russia » Economics

Tyumen Oil Company (TNK) plans to increase its production by 3 percent in 2002 and by 10 percent in 2006 compared to 2001, Viktor Vekselberg, head of Siberian-Ural Aluminum Company (SUAL), declared at a press conference devoted to investment plans of SUAL and TNK. As it was earlier reported TNK produced 26.474m tons of oil in 2001. Gas production amounted to 2.599bn cubic meters. Some 423 new wells were brought into production and they produced 1.3m tons of oil in 2001. The company is exploring 18 fields.

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