Under existing plans, mass production of oil from the Kyumbinskoye field, in the Krasnoyarsk region, will begin in 2009-2010, concurrently with the construction of a pipeline to pump it to customers, a Slavneft news release said.
The company expects the deposit's annual output will reach 730,000 metric tons (5,445,800 barrels) once all essential infrastructure facilities are in place by 2011, and will further increase to 3 mln tons (22.4 mln bbl) in 2012.
Kyumbinskoye's recoverable C1+C2 oil reserves are estimated at 200 million metric tons (1.5 bln bbl) as of January 1, 2006, having increased by 122 mln tons (910 mln bbl) since prospecting began a decade ago. This is the largest reserve estimate upgrade in the oil-rich Krasnoyarsk province so far.
Slavneft, one of Russia's top 10 crude producers, has an annual oil output of more than 24 million metric tons (480,000 bbl/d). About 98.95% of the company's stock is held by the Russian-British joint venture TNK-BP and Sibneft, which is majority owned by Russian energy giant Gazprom.
