Kolvinskoye

In 2011, the improved macro environment supported our operations and financial performance. The price of Urals increased by almost 40% year-on-year and the Russian Rouble strengthened against the US Dollar by 3.2%. New tax initiatives aimed at stimulating Russian upstream production and enforcing refinery modernizations were adopted last year. Alliance Oil Company’s oil production …

Alliance Oil Company Ltd’s total oil reserves increased by 1.8% to 996.9 million barrels (978.8 million barrels). The Company replaced 153.6% of the total 2011 oil production by adding net proved and probable (2P) oil reserves of 9.6 million barrels (net of 17.9 million barrels produced in 2011) through exploration and development as well as reserve revisions. The Kolvinskoye …

Alliance Oil Company’s total upstream volumes for 2011 increased by 12% to 17.9 mbbl (49,100 bopd) from 16.0 mbbl (43,800 bopd) in 2010. The full year development and exploration program resulted in 56 new wells. The preliminary refining volumes in 2011 increased by 13% to 26.9 mbbl (73,700 bopd) from 23.7 mbbl (64,900 bopd). …

Alliance Oil Company Ltd has completed infrastructure development and launched production at the Kolvinskoye oil field. The Company started to fill up a 146-kilometer pipeline from the Kolvinskoye oil field to the Kharyaga terminal where it joins the Transneft trunk pipeline via the existing Lukoil transportation facilities. Oil preparation facilities and oil custody transfer …