Bashneft sees Trebs and Titov output around 1 million tonnes in 2014

MOSCOW Mon Sep 23, 2013 11:55am EDT

Bashneft Chief Executive Alexander Korsik takes part in the Reuters Investment Summit in Moscow September 23, 2013. REUTERS/Sergei Karpukhin

Bashneft Chief Executive Alexander Korsik takes part in the Reuters Investment Summit in Moscow September 23, 2013.

Credit: Reuters/Sergei Karpukhin

MOSCOW (Reuters) - Bashneft (BANE.MM), Russia's mid-sized oil producer, sees oil output at its new Trebs and Titov oil fields reaching 1 million tonnes (20,000 bpd) next year, Chief Executive Alexander Korsik told the Reuters Russia Investment Summit.

Bashneft, part of oil-to-telecoms company Sistema (AFKS.MM), started producing in test mode at the two fields in the Timan-Pechora province of northern Russia, the biggest new project to be launched in several years.

The ramp-up is planned in three phases, with peak production of 4.8 million tonnes a year expected by 2018.

"The first phase targets 1.5 million tonnes, the second, up to 3 million tonnes, and the third, 4.8 million tonnes," Korsik said.

Not counting Trebs and Titov, Bashneft which pumped 15.4 million tonnes of oil last year and operates its core fields in the ethnic republic of Bashkortostan, aims to boost output to 15.7 million tonnes this year and maintain that level through 2014.

(Reporting by Katya Golubkova and Vladimir Soldatkin; editing by Melissa Akin and Keiron Henderson)

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