BP to ramp up production of Russian gas

first_img Share BP to ramp up production of Russian gas whatsapp Show Comments ▼ Monday 22 November 2010 7:26 pm KCS-content whatsappcenter_img More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Center RUSSIA’s third largest oil firm, TNK-BP, said yesterday it was to invest $3.8bn (£2.4bn) in its gas business over the next three years in a bid to more than double production to 30bn cubic metres (bcm) by 2020.The oil firm, which is half-owned by British oil company BP, will invest $1.8bn between now and 2013 in developing associated gas from its oil deposits. TNK-BP said this was in order to meet a government target of increasing associated gas utilisation to 95 per cent by 2012.Associated gas is often found dissolved in oil at high pressures existing in a reservoir or as a gas cap above the oilVice president Alistair Ferguson said yesterday associated gas would provide over half of the oil firm’s production. “Critical to achieving this (95 percent utilisation rate) is getting associated gas priority access to the gas pipeline. But you also need to have customers for it, so access to the power market is another important element,” added Ferguson.The firm will also invest $2bn on regular natural gas extraction projects over the next three years, putting the total natural gas investment plan at $3.8bn.TNK-BP, is set to produce 13 bcm of gas this year from 143 fields and already processes 85 per cent of the associated gas that it extracts from the ground together with oil.Part of TNK-BP’s $1.8bn associated gas utilisation project is a $700m investment in its own energy projects, such as gas processing facilities and power plants, which will supply electricity for the firm’s own oil field operations.But that output target does not factor in the gas assets it is in negotiations to buy from BP in Venezuela and Vietnam.It does, however, include potential unconventional gas production in Ukraine, where TNK-BP has submitted applications for six licences to invest $50m to explore for tight gas. TNK-BP’s main gas-producing assets in Russia are its Rospan fields in Arctic Yamal-Nenets region in the Arctic. Production at Rospan grew by 12 per cent year-on-year for January to September 2010 to 1.9 bcm. Tags: NULLlast_img read more