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OPEC: Russia to increase oil production in 2019

August 14/ 08:56

Moscow. Russian oil producers will boost crude production next year largely owing to the start of several greenfield projects.  The Organization of Petroleum Exporting Countries (OPEC) said in its report on Monday.

"In 2019, Russian oil companies have the potential to increase production through green field development. Incremental production of oil, NGLs and condensate could come from several projects, such as Uvat, East-Siberian, Vankorneft, Messoyakha and Yamal LNG," OPEC said.

Three new projects of Russia’s Rosneft company are expected to come on stream for oil production in the fourth quarter of this year, OPEC reported. The Tagulskoye field is set to start operations in November 2018. The Russkoye field and Phase 2 of the Srednebotuobinskoye field are scheduled for startup in December of this year.

OPEC expects that average oil production in Russia will be 11.15 mln barrels per day in 2018 and 11.17 mln barrels daily in 2019, intorm TASS.

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