Alliance Oil Company's total oil production for the first quarter of 2010
amounted to 3.8 mbbl compared to 3.9 mbbl in the fourth quarter of 2009.
Preliminary refining volumes at the Khabarovsk refinery amounted to 5.6 mbbl in
the first quarter of 2010 compared to 5.6 mbbl in the fourth quarter of 2009.
Preliminary first quarter of 2010 oil products sales amounted to 5.7 mbbl
compared to 5.7 mbbl in the fourth quarter of 2009.
The current crude oil production rate is approximately 42,400 barrels per day.
The Khabarovsk refinery is currently running at approximately 60,000 barrels
per day.
Oil production in the Volga-Urals region totalled 1.8 mbbl in the first quarter
of 2010 compared to 1.8 mbbl in the fourth quarter of 2009. Oil production in
the Timano-Pechora region totalled 1.1 mbbl in the first quarter of 2010
compared to 1.1 mbbl in the fourth quarter of 2009. Oil production in the Tomsk
region totalled 0.7 mbbl in the first quarter of 2010 compared to 0.8 mbbl in
the fourth quarter of 2009. Oil production in Kazakhstan totalled 0.1 mbbl in
the first quarter of 2010 compared to 0.1 mbbl in the fourth quarter of 2009.
In the first quarter 9 new wells were put into production and drilling of 14
more wells started. In Timano-Pechora, rigs were mobilized and drilling started
at eight locations.
In the downstream segment, on March 12 maintenance works started at the
catalytic reforming unit of the Khabarovsk refinery. As per the projected
Complex plan of technical development for 2010, the unit will be shut for 50
days with lower volumes of gasoline produced.
Three new gasoline storage tanks of 5,000 cubic meters total capacity have been
completed at the Khabarovsk wholesale terminal. The new tanks use the most
advanced double-wall reservoir technology to minimize risk of leakages and
improve technological, ecological and work safety conditions.
“The pricing environment remained favourable for our upstream business in the
first quarter as domestic and international crude oil prices gradually
increased. In the downstream segment, prices remained fairly stable with export
markets providing better opportunities. Drilling activity in the upstream
segment is progressing according to plan,” says Arsen Idrisov, Managing Director
of Alliance Oil Company.
The company targets to produce 17.0 mbbl and to refine 21.0 mbbl of oil in 2010.
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 8 613 00 85
Also visit www.allianceoilco.com
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 526 million barrels, oil production of approximately
42,400 barrels per day, refining capacity of 70,000 barrels per day and a
network of gas stations and wholesale oil products terminals. Alliance Oil's
depository receipts are traded on the Nasdaq OMX Nordic under the symbol AOIL.
