MOSCOW, Aug. 8 (UPI) -- The Russian oil firm Gazprom Neft said it would boost oil production at the western Siberian Priobskoye field to 97 million barrels annually.
Gazprom Neft said oil exploration in the southern portions of the Priobskoye field was more productive than initially forecast, the Interfax news agency said.
Gazprom Neft said in a statement initial forecasts for 2005-2007 predicted 502 new wells in the region, but the company had realized 578 wells.
"In 2008-2014, a total of 1,256 wells will be drilled; however, drilling has been ahead of schedule in 2008," the statement added.
The Priobskoye field is expected to bring 96 million barrels of oil to market by 2012. The western Siberian field is one of the most lucrative for Gazprom Neft, expected to account for more than 30 percent of its overall output by 2010.
