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Alliance Oil: Nearly Doubles Upstream Production in 12 Months

Average daily oil production in the Timano-Pechora region amounted to 22,600 bopd in the second quarter of 2012 compared to 12,100 bopd in the second quarter of 2011. Oil production in the Volga-Urals region and Kazakhstan amounted to 22,500 bopd in the second quarter of 2012 compared to 21,200 bopd in the second quarter of 2011. Oil production in the Tomsk region amounted to 8,500 bopd in the second quarter of 2012 compared to 8,600 bopd in the second quarter of 2011. In the second quarter of 2012, 32 new wells were drilled including 3 exploration wells in the Volga-Urals and Timano-Pechora regions.

At the Kolvinskoye oil field in the Timano-Pechora region, the average daily production amounted to 12,400 barrels with a total of 1.1 mbbl produced for the quarter. As of June 30, 2012 the well stock of the field consisted of 33 production wells and 1 exploration well. 17 wells were in operation, 16 wells were not producing due to testing and workover operations and 1 well was transferred to an injection well. 5 new wells were drilled in the second quarter of 2012.

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