The Pilot Production of the R. Trebs Field and the A. Titov Field Has Started

A solemn ceremony on the occasion of starting the pilot production of the R. Trebs field and the A. Titov field took place at the Central Production Facility of the R. Trebs field. ArkadyDvorkovich, Vice Prime Minister, managers and employees of Sistema, JSFC, ANK Bashneft, JSC and Lukoil, JSC participated in the ceremony.

During his speech, ArkadyDvorkovich has pointed out that this project is of high priority for Russia. 'We are starting the pilot production of one of the largest fields on the continent. This is to prove a successful development of the oil industry in Russia', he stated. The Vice Prime Minister expressed gratitude to the employees involved in the project implementation for their work and wished them further success. He added that for a successful implementation of the project it is important to have a stable legislation, possibility to apply tax concessions concerning the tax on natural resources production and customs charges.

'The Trebs and Titov fieldsare, first of all, an export potential of the Timano-Pechorsk region', ArkadyDvorkovich said at the ceremony. The field production has started in August. "Having the start-up deadline of 2018, we started production in 2013. Can you imagine how it is economically advantageous for Russia? A field has never been put into production within such a short period before', VagitAleksperov, Lukoil President, said.

The Trebs and Titov fields in the Nenets Autonomous District are ones of the last undeveloped fields. The Roman Trebs field was discovered in 1987 during prospecting work in the Varknavtskaya structure, and the Anatoly Titov filed was discovered in 1989 when an oil flush was obtained from the Paleodevonian formations.

The license area including these fields is 2151 sq. m. Total industrial-grade oil productive capacity kept on the State Balance is estimated to be 140.06 mmt. Bashneft and Lukoil are going to invest 180 blnrubles in Trebs and Titov fields development. Our Partners have already invested 20.4 bln rubles in Trebs and Titov fields.

150,000 t of oil has already been produced at the fields. Since the Trebs field production started, oil has been already delivered at European oil processing plants. According to the presentation of the start up of the field production, 300,000 t are targeted to be produced by the end of the year. In 2014, field production will be 900,000 t (supplementary exploration is going to take place in the same year), and full production capacity (4.8 mmt) is scheduled to be achieved by 2020.

As the main contractor, JSC "Trust Koksokhimmontazh" has contributed a lot in implementation of a large investment project of the Trebs and Titov fields development in the north of Timano-Pechora. There have been provided the services on manufacturing, delivery, assembly and anti-corrosion protection of more than 3,500 t of metal structures. The work was completed within an extremely short time period: February to June, 2013. JSC "Trust Koksokhimmontazh" hopes for further cooperation with ANK Bashneft, JSC concerning facility construction for the Trebs and Titov oil fields.