Rosneft sees oil output rising 11% in 2008

MOSCOW, Dec 28 (Reuters) – Russia’s state-controlled oil champion Rosneft will raise oil output by 11 percent in 2008 maintaining impressive growth in West Siberia and launching a new major field in East Siberia, it said on Friday.

Rosneft, which this year acquired most of the assets of bankrupt firm YUKOS, said its production will rise to 111.93 million tonnes or 2.24 million barrels per day, on a par with mid-sized OPEC producers such as Nigeria.


In 2007 Rosneft increased production by 25 percent to just above 100 million tonnes with organic growth reaching 6.3 percent.

It also said it had added 176 million tonnes of new reserves this year under the Russian C1 category, fully replacing its annual production.