Interfax reported that OJSC Varyeganneftegaz, an upstream subsidiary of oil company TNK-BP in the Khanty Mansiysk Autonomous District plans to reduce oil production by 16.8% to 1.662 million tonnes in 2012.

Varyeganneftegaz reduced oil production by 21.4% to 1.997 million tonnes in 2011.

The company plans to launch 15 new wells this year, one more than in 2011.

The number of production wells at the company decreased by 0.7% to 1,269 in 2011, and the number of injections wells dropped by 8.9% to 494. The number of active wells rose by 5.3% to 669 at the end of 2011.

Source - Interfax

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