Russian oil group Rosneft has announced that it had reached a record high hydrocarbon production in 2015, at 254.2 mtoe (5.16 mboe/d), thanks to more than 1,800 new wells commissioned during the year and a 36% increase in development drilling meterage. In 2015, Rosneft commissioned 555 horizontal wells (more than a 24% increase), accounting for 30% of the total number of wells commissioned in 2015.
Rosneft’s refineries processed around 96.7 Mt in 2015 (including 84.7 Mt in Russia). Light product yield was increased from 54.8% in 2014 to 55.3% in 2015 as well as increase of conversion rate from 65.3% in 2014 to 66.5% in 2015.
Crude oil sales rose by 3% in 2015 to 114.5 Mt, of which Rosneft exported 109.1 Mt, including 39.7 Mt (+18.5%) to the East. Petroleum products sales volumes at 2015 year end amounted to 97.4 Mt, a 1.2% increase. Supply volume of motor fuels of Euro-4/5 class in Russia increased by 34% in 2015 and the share of Euro-4/5 class motor oil production in the total production increased from 59.4% to 80.1% (+20.7 percentage points as of the end of 2015).
In 2015, Rosneft invested RUB 660bn (around US$9.5bn), a 30% increase over 2014. The growth is primarily due to the increased volumes of development drilling at brown fields, as well a boosted pace of infrastructure setup and new fields development. In 2016-2018, Rosneft plans to raise its investments to up to circa RUB 1,000bn/year (US$14bn/year), focusing on brown fields. The group will develop drilling volumes by up to 34% in 2016.