Zarubezhneft has achieved the planned production indicators at the Kharyaga field early

Zarubezhneft has achieved the planned production indicators at the Kharyaga field early

In the framework of the Kharyaga field development project implementation Zarubezhneft has complied with the planned production indicators early by achieving the annual production of 1.4 million tons of oil. Under the results of 2018 it is expected that the actual production level shall be almost 5% above the planned one.

During the whole time of Zarubezhneft JSC being the operator of the Kharyaga field development projects the Company has been performing all undertaken obligations and necessary production and financial measures what sustainably ensures general improvement of estimated economic indicators compared to the planned ones.

Currently Kharyaga PSA is an efficient and successful project providing sustainable income for the State and the Investor. In course of the project’s operation the cumulative production at the Kharyaga field has reached 21 million tons and the total contributions to the budget system of the Russian Federation exceeded 4 billion USD.

For reference
On August 1, 2016, Zarubezhneft represented by its subsidiary ZARUBEZHNEFT-Production Kharyaga became the operator of the Kharyaga field development project under PSA terms after the transfer of 20% share and the operatorship from the French Total. After the deal consummation the participants’ participating interests were distributed as follows: Zarubezhneft JSC – 20%, ZARUBEZHNEFT – Production Kharyaga LLC (operator) – 20%, Statoil Kharyaga AS – 30%, Total PPP – 20%, Nenets Oil Company – 10%.