Gazprom Neft, the oil arm of Russian state gas company Gazprom, will stick to its production plans at its Prirazlomnoye oil field in the Arctic despite being put under Western sanctions, First Deputy CEO Vadim Yakovlev said.
"At the moment, we don't think that this will affect our long-term plans," he told reporters at the platform, located some 60 km [40 miles] away from the shore in the Pechora Sea.
The oil field is Russia's first offshore Arctic field — a key source for future hydrocarbon production growth in Russia, now the world's biggest oil producing nation. Yakovlev said the field should reach plateau oil production of 5.5 million tons (110,000 barrels per day) by 2021, after which it would produce more than 4 million tons a year for around three years. The field plans to produce 300,000 tons of oil this year, which will be shipped by tankers to Europe. The first tanker left this spring and the second is now being loaded to be sent off soon.
INC News, 15/09/2014
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