Rosneft Q2 output edges up

MOSCOW, August 11, 2016 – Rosneft posted its operational results over the second quarter and the first half of 2016 on Thursday, reporting a marginal increase in hydrocarbons production.

The Russian major said hydrocarbons output in the second quarter of the year averaged 5.22 million boepd, up 0.2% over the first three months of 2016. Oil production came out at 4.11 million bopd, up 0.5%.

While Rosneft’s gas output reached 33.23 bcm (1.17 tcf) in the first half of the year, a 7% increase over the same period in 2015, production in the second quarter was down 1.3% compared with the preceding quarter to reach 16.51 bcm (583 bcf).

The company’s development drilling performance stood out, with a year-on-year increase of 48% in the footage of development drilling in the first half of the year. Rosneft drilled 4.5 million metres over the mentioned period, hitting a daily record of 40,339 metres in June.

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