Rosneft produced one millionth ton of crude oil just 8 months after drilling of the first well at the Northern Tip of Chayvo field

MOSCOW, 26-5-2015 — /EuropaWire/ — On May 25, Rosneft produced one millionth ton of crude oil at the Northern Tip of Chayvo field on the shelf of the Sakhalin Island. This milestone was reached just eight months after drilling of the first well at the field was completed in September 2014 from the onshore site.

RN‑Shelf‑Far East, Rosneft subsidiary, is currently producing crude oil at the field with two unique extended-reach wells that are 10,825 m and 9,923 m of measured depth. Their cumulative daily output amounts to over 5,000 mln tons.

The whole amount of produced crude oil is transported by oil tankers from the De-Kastri terminal of Khabarovsk Territory. 10 shipments have already been dispatched to Asia Pacific region. Associated petroleum gas is marketed domestically to Far East-based consumers.

The development plans for the Northern Tip of Chayvo field implies further application of innovative drilling technologies, with the construction of a cluster bringing together five unique wells on the onshore drilling site in the near term. Achieving the maximum output of up to 2 mln tons PA by 2017 is the next operational objective.

Notes for editors:

The Northern Tip of Chayvo field is a licensed area within the shallow zone of the Northeastern shelf of Sakhalin. Its oil and condensate reserves exceed 15 mln tons, while natural gas deposits total about 13 BCM.

Sokol, the oil grade produced at the field, is of outstanding quality, with 0.25% of sulfur and 0.825-0.826 kg/m3 density (36.8 API gravity).

Rosneft Information Division
Tel.: + 7 (499) 517-88-97

These materials contain statements about future events and expectations that are forward-looking. Any statement in these materials which is not information for prior accounting periods is an expectation and related to known and unknown risks, uncertainties or other factors, which can make the actual results, performance or achievements differ substantially from those anticipated and implied in these forward-looking statements directly or indirectly. We assume no obligation to update the data contained herein, to reflect actual results, changes in assumptions or factors affecting these statements.

###

Rosneft produced one millionth ton of crude oil just 8 months after drilling of the first well at the Northern Tip of Chayvo field