Yangpur acquires Russia’s Purneft oil-and-gas company
<p> MINSK, Aug 30 - PrimePress. Russia-based Yangpur Oil Company, a subsidiary of Belarus’ state-owned Belorusneft (Rechitsa, Gomel Oblast), has acquired Russian oil and gas company Purneft LLC, according to a report by the corporate newspaper Neftyanik (Oil Rigger). </p> <p> </p> <p> Yangpur Oil Company JSC became a 100% shareholder in Purneft LLC, which made it possible for Yangpur to increase the total area of assets in Russia’s Yamalo-Nenets Autonomous District to 2 thousand square kilometres. </p> <p> </p> <p> Purneft LLC has been operating since 2007, owns 69 oil wells in the Ust-Purpeysk area in Yamalo-Nenets Autonomous District. </p> <p> </p> <p> “We have been eyeing at Purneft for a long time. Negotiations with the bank and the former owner have been going on for more than a year. The location of the Ust-Purpeysk area is quite favourable. There are communication facilities and an oil-gathering system. We consider the project as one in the development of our northern cluster. Yangpur and Purneft are planned to merge completely by the end of this year,” said Yangpur CEO Alexander Polyakov. </p> <p> </p> <p> According to Belorusneft experts, the acquisition of the new asset will allow Yangpur to significantly increase its annual hydrocarbon production. In 2021 it will total 316 thousand tons of oil and gas condensate and 1.23 billion cubic meters of associated and natural gas. By 2025, the level of hydrocarbon recovery in oil equivalent is expected to reach the volume received by oil producers in the Belarusian region - about 1.7 million tonnes per year. </p> <p> </p> <p> Belorusneft has been producing oil in the Russian Federation since 2013. Belorusneft’s first oil producing asset in Russia was Yangpur Oil Company, which holds licences for the right to use subsoil of the 1,036 sq km Izvestinsky licence area and the 493.5 sq km Yuzhno-Tydeottinsky licence area located in the Purovsky District of the Yamalo-Nenets Autonomous District, Tyumen Region. Yangpur has 7 fields and development is underway at 6 fields. Annual production of oil and gas condensate is about 300 thousand tons of marketable product, natural gas - about 1 billion cubic metres. Belorusneft operates in this region on the basis of a closed collection system with established schemes for sales of marketable product through the Transneft system. </p> <p> </p> <p> Belorusneft was founded in 1966. The company specializes in exploration works, oil extraction, gas processing, and offers a wide range of seismic exploration operations. Belorusneft provides oil extraction services in Russia, Ukraine, Venezuela and Ecuador, facilitates crude supplies to the Belarusian oil refineries (Mozyr Oil Refinery, Gomel Oblast, and Naftan OJSC, Novopolotsk, Vitebsk Oblast) on a give-and-take basis. Belorusneft sells oil products through its own chain of refilling stations and trading companies, and is engaged in the oil product export. End </p> <p> </p>
2021-08-31
Primepress
Yangpur acquires Russia’s Purneft oil-and-gas company
MINSK, Aug 30 - PrimePress. Russia-based Yangpur Oil Company, a subsidiary of Belarus’ state-owned Belorusneft (Rechitsa, Gomel Oblast), has acquired Russian oil and gas company Purneft LLC, according to a report by the corporate newspaper Neftyanik (Oil Rigger).
Yangpur Oil Company JSC became a 100% shareholder in Purneft LLC, which made it possible for Yangpur to increase the total area of assets in Russia’s Yamalo-Nenets Autonomous District to 2 thousand square kilometres.
Purneft LLC has been operating since 2007, owns 69 oil wells in the Ust-Purpeysk area in Yamalo-Nenets Autonomous District.
“We have been eyeing at Purneft for a long time. Negotiations with the bank and the former owner have been going on for more than a year. The location of the Ust-Purpeysk area is quite favourable. There are communication facilities and an oil-gathering system. We consider the project as one in the development of our northern cluster. Yangpur and Purneft are planned to merge completely by the end of this year,” said Yangpur CEO Alexander Polyakov.
According to Belorusneft experts, the acquisition of the new asset will allow Yangpur to significantly increase its annual hydrocarbon production. In 2021 it will total 316 thousand tons of oil and gas condensate and 1.23 billion cubic meters of associated and natural gas. By 2025, the level of hydrocarbon recovery in oil equivalent is expected to reach the volume received by oil producers in the Belarusian region - about 1.7 million tonnes per year.
Belorusneft has been producing oil in the Russian Federation since 2013. Belorusneft’s first oil producing asset in Russia was Yangpur Oil Company, which holds licences for the right to use subsoil of the 1,036 sq km Izvestinsky licence area and the 493.5 sq km Yuzhno-Tydeottinsky licence area located in the Purovsky District of the Yamalo-Nenets Autonomous District, Tyumen Region. Yangpur has 7 fields and development is underway at 6 fields. Annual production of oil and gas condensate is about 300 thousand tons of marketable product, natural gas - about 1 billion cubic metres. Belorusneft operates in this region on the basis of a closed collection system with established schemes for sales of marketable product through the Transneft system.
Belorusneft was founded in 1966. The company specializes in exploration works, oil extraction, gas processing, and offers a wide range of seismic exploration operations. Belorusneft provides oil extraction services in Russia, Ukraine, Venezuela and Ecuador, facilitates crude supplies to the Belarusian oil refineries (Mozyr Oil Refinery, Gomel Oblast, and Naftan OJSC, Novopolotsk, Vitebsk Oblast) on a give-and-take basis. Belorusneft sells oil products through its own chain of refilling stations and trading companies, and is engaged in the oil product export. End