Rosneft oil forecast up for 2009

MOSCOW, Jan. 12 (UPI) -- The 2009 oil output from Russian major Rosneft is forecast at 2.25 million barrels per day, an increase of 2 percent from 2008, the company said Monday.

"This growth is primarily explained by further development of Rosneft's extensive reserve base that was underpinned by increased production drilling at the company's core upstream enterprises," the company said in statements Monday.

Rosneft said the increase derives from production at more than 700 new wells and through reserves from the Vankor oil and gas field in eastern Siberia, the Platts reporting service said.

Meanwhile, gas production from the Priobskoye field in the Khanty-Mansiysk autonomous district of western Siberia will contribute to an increase of 24.7 million cubic feet of gas expected in 2009.

Explorations for 2009 include 185,000 feet of drilling and expansions at existing facilities at a rate on par with 2008 levels.

Rosneft, the largest oil firm in Russia, secured state-backed loans in December worth more than $4.5 billion to pare losses from the global economic downturn.