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The company's crude production in western Siberia was 5.5 percent lower in the first quarter, at 14.3 million tons (1.2 million barrels per day), compared with a year earlier, according to a statement on its web site. pumps about 62 percent of its oil in western Siberia.
"A significant impact on our production in the period was caused by a lack of sufficient power generating capacities to meet the growing demand," it said. Producers "face the need to scale up pumping operations supporting crude oil production operations."
The country needs more electricity for power pumps that inject water in the fields in Siberia to push out crude. Companies such as TNK-BP and build generators and secure power-supply contracts from utilities to ensure operations.
TNK-BP plans this year to sign 15-year contracts with to supply gas to a power plant in Nizhnevartovsk and buy electricity from the generator.
Power Shortages Hit LUKoil Output
05 June 2008
Bloomberg
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