24 July 2014, Thursday, 15:23

Bashneft increased oil production by 11.5 percent in the second quarter of 2014

author: Iliya Spiridonov

In the second quarter of 2014, Bashneft's oil production totalled 4,3 mln tons of oil, which is by 11.5% higher than figures of the same period of 2013, the press-service of the company informs. Average daily production reached a 20-year high of 48.1 thousand tons per day.

Strong growth of oil production in the second quarter of 2014 was driven by a 2.6% increase in production at brownfields due to efficient geological and engineering operations, and development at the Trebs and Titov fields in the Nenets Autonomous District and at the Sorovskoye field of Burneftegaz in the Khanty-Mansi Autonomous District.

Total during the six months of 2014, Bashneft produced 8,5 mln tons of oil, which is by 9.3% more than in the same period of 2013.

Bashneft's refining complex in the second quarter also showed a growth of 3.7 percent. Refining volume reached 5.5 million tons, and in the whole first half — 10.8 million tons. According to the press service of Bashneft, as a result of ongoing refinery upgrade program the share of light products in refined product output was 62.34%. The average refining depth made 86,64 percent.

In the second quarter of 2014, output of commercial products increased by 4% and reached 5,1 mln tons. The start of operation of a catalytic cracking gasoline hydrotreater enabled the company to increase the output of Euro 5 gasoline by 36.5%. To date, 88.8 percent of gasolines produced by Bashneft correspond to the Euro-5 standard.

  In addition, the second quarter was by marked a significant increase in output of niche light products — jet fuel and marine gasoil.