Operational update for third quarter of 2012
10/9/2012 2:00 AM EST
Alliance Oil Company Ltd
Company Announcement
Operational update for third quarter of 2012
Alliance Oil Company’s average daily oil production for the third quarter of
2012 amounted to 53,309 bopd compared to 45,662 bopd in the third quarter of
2011. In total, 4.9 mbbl were produced in the reporting period compared to 4.2
mbbl in the third quarter of 2011. Preliminary average daily refining volumes
at the Khabarovsk refinery amounted to 84,580 bopd in the third quarter of 2012
compared to 77,442 bopd in the third quarter of 2011. In total, 7.8 mbbl were
refined compared to 7.1 mbbl in the third quarter of 2011. Preliminary crude
oil and oil product sales amounted to 4.9 mbbl and 8.1 mbbl respectively in the
third quarter of 2012 compared to 4.0 mbbl and 7.1 mbbl in the third quarter of
2011.
The forecasted average upstream production for 2012 amounts to approximately
54,000 barrels per day and reflects adjustments of the fourth quarter drilling
schedule. Supported by growing demand for oil products in the Russian Far East
and completion of 7 new units at the Khabarovsk refinery, the forecasted
average downstream production for 2012 has been increased to approximately
77,000 barrels per day[1].
Preliminary operating results in barrels per day:
Upstream Downstream
2012 Production Crude oil sales Refining Oil product sales
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January 59,421 56,734 77,531 65,865
February 55,187 54,444 78,390 77,634
March 54,481 49,752 69,129 69,377
1st quarter 56,363 53,643 75,017 70,959
April 52,918 52,297 70,888 72,625
May 54,422 53,544 81,946 93,600
June 53,279 53,416 82,260 82,828
2nd quarter 53,540 53,086 78,404 82,912
July 53,732 57,533 83,643 84,496
August 53,473 50,306 84,809 88,790
September 52,725 51,099 85,417 89,565
3rd quarter 53,309 52,979 84,580 88,356
9 months 54,414 53,238 79,325 80,760
Upstream
Average daily oil production in the Timano-Pechora region amounted to 21,000
bopd in the third quarter of 2012 compared to 16,000 bopd in the third quarter
of 2011. Oil production in the Volga-Urals region and Kazakhstan amounted to
23,000 bopd in the third quarter of 2012 compared to 21,700 bopd in the third
quarter of 2011. Oil production in the Tomsk region amounted to 9,400 bopd in
the third quarter of 2012 compared to 8,000 bopd in the third quarter of 2011.
In the third quarter of 2012, 21 new wells were drilled. The average daily
production at the Kolvinskoye field amounted to 11,400 barrels with a total of
1.1 mbbl produced for the quarter.
Downstream
In the downstream segment refining capacity has been increased to 90,000 bopd
as 7 new units with upgraded utilities, infrastructure and offsites were
launched in 2009-2012. Utilization of the refinery remained high due to strong
demand for oil products both domestically and internationally. Wholesale and
export volumes increased compared to the previous quarter.
Upstream and downstream production data for October 2012 will be disclosed on
November 9, 2012. Third quarter financial results will be disclosed on November
21, 2012.
For further information please contact:
Arsen Idrisov, Managing Director, Alliance Oil Company, Tel.: +7 495 777 18 08
Eric Forss, Chairman, Alliance Oil Company, Tel.: +46 8 611 49 90
Also visit www.allianceoilco.com
[1] Previous guidance of 55-60,000 bopd and 72-77,000 bopd for upstream and
downstream respectively.
Alliance Oil Company Ltd is a leading independent oil company with vertically
integrated operations in Russia and Kazakhstan. Alliance Oil has proved and
probable oil reserves of 648 million barrels and downstream operations that
includes the Khabarovsk refinery and the leading network of gas stations and
wholesale oil products terminals in the Russian Far East. Alliance Oil's
depository receipts are traded on the NASDAQ OMX Nordic under the symbol AOIL.