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Europe two more e siberia fields to link to espo in dec flows start jan - key cutting machine by erhtt cwqc





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Europe two more e siberia fields to link to espo in dec flows start jan - key cutting machine by
Article Posted: 07/28/2011
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Europe two more e siberia fields to link to espo in dec flows start jan - key cutting machine


 
Business,Business News,Business Opportunities
p>Two medium-sized fields in Russia's East Siberian Irkutsk region will be linked to the East Siberia-Pacific Ocean pipeline in December ready to begin flows in January, a subsidiary of national oil transportation monopoly Transneft said Friday.

ÂÂÂÂ The infrastructure to connect the Dulisminskoye field, owned by UK-based Urals Energy, and the Yaraktinskoye field, owned by Russia's Irkutsk Oil, to the ESPO line will be ready in late 2010, a spokeswoman at Transneft regional arm Vostoknefteprovod said in a statement.

ÂÂÂÂ Irkutsk Oil expects to ship up to 1 million mt from its Yaraktinskoye oil, gas and condensate field via ESPO at an initial stage, gradually raising the volumes to 3.4 million mt in 2014-15, a company spokesman said.

ÂÂÂÂ Yaraktinskoye holds 19.6 million mt of recoverable reserves under the Russian C1 classification, he added.

ÂÂÂÂ The next field to be joined to the ESPO line by Irkutsk Oil will be the 884,000 mt recoverable reserves Markovskoye field, he said.

ÂÂÂÂ Irkutsk Oil's four fields, including Yaraktinskoye and Markovskoye, will be charged a reduced rate of crude export duty when on stream, the spokesman said.

ÂÂÂÂ Since July, Russia has been imposing a reduced rate of export duty on the East Siberian crude that is being exported via the ESPO line, or ESPO blend.

ÂÂÂÂ Before that, crude exports from the region had been exempt from tax to stimulate investments in the development of the new, oil-rich but remote province of East Siberia, which requires massive spending on infrastructure.

ÂÂÂÂ Dulisminskoye oil, gas and condensate field, also on the list to get export duty benefits, is expected to make an annual contribution of 815,000 mt of crude to the ESPO line, the Transneft subsidiary said in a statement.

ÂÂÂÂ Transneft has already laid 50 km of the pipe to connect the field to the trunk line, and is now involved in design and construction works, it said.

ÂÂÂÂ Transneft subsidiary said in a statement that the implementation of the ESPO project "had raised the investment attractiveness of the license areas and encouraged producers to speed up the launch of production from the oil fields located along the route."

ÂÂÂÂ Russia launched the first, 600,000 b/d stage of the ESPO line running across East Siberia to Skovorodino in Russia's Far East, near the border with China, in late December. From Skovorodino, 300,000 b/d is transported by rail to a new export terminal of Kozmino on the Pacific coast. Russia launched its section of a 300,000 b/d offshoot from Skovorodino to China in late-August.

ÂÂÂÂ Russia plans to extend the route to Kozmino and simultaneously expand its capacity to 1 million b/d by the end of 2012. At a later stage, the route could be expanded further to 1.6 million b/d.

China Chemical Weekly:

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