Pechoraneft ups production
The Pechoraneft oil company this year intends to increase its production in the Timan-Pechora province with more than six percent.
Pechoraneft, which in 2005 was bought by the Swedish-owned Western Siberian Resources, now Alliance Oil, will in 2010 increase production at its Middle Kharyaga field with 6,4 percent, Oilru.com reports.
The company holds four exploration and production licenses in the region: Middle Kharyaga, North Kharyaga, Lek-Kharyaga and Kolvinskoye. According to the website of Alliance Oil, the company’s proven, probable and possible oil reserves in the region amount to 504.1 million barrels of oil.
