OREANDA-NEWS. November 11, 2009. In 2009 ОАО "Ulyanovskneft", the subsidiary enterprise of OJSC Oil and Gas Company "RussNeft", has increased rates of oil production and is going to produce more than 700 thousand tons (with the planned parameters of a business plan in the amount of 696 thousand tons). For the first nine months of 2009 the enterprises of the Ulyanovsk Group of OJSC Oil and Gas Company "RussNeft" have produced 522.648 thousand tons of oil when according to business plan it was 504.194 thousand tons of oil.

The key points of the production plan of the Ulyanovsk Group of enterprises of OJSC Oil and Gas Company "RussNeft" in 2009 are to increase oil rate by means of base production support, support of projects on geological and engineering operations and drilling of new wells. Production growth will be mainly conditioned due to realization of program on geological and engineering operations. In 2009 "RussNeft" made available significant funds for financing of this program.

Besides, "Ulyanovskneft" continues to carry out exploration works under the existing and new license areas in order to supply the resource base of the enterprise.

Thus, in 2005 "RussNeft" has accrued at an auction the right to develop prospective Pavlovsky license area. In 2006-2007 there was actively carried out supplementary exploration of the said license area. In 2008 in Pavlovsky license area there was begun exploratory drilling and its detailed elaboration. This year there was conducted seismic survey in the amount of 600 km in length. According to preliminary data of geologists deep exploratory drilling seems to be prospective.

The consolidated proceeds of the Ulyanovsk Group of enterprises for 9 months made 2.6 billion Rubles. Production cost of 1 ton of oil reduced by 29% as compared to the same period a year before.