Russian Crude Oil Production in 1996:Conditions and Prospects

Abstract

A noted Western specialist on the energy industries of the former USSR assesses trends in the production of oil (and gas condensate) in the Russian Federation in 1996 and surveys prospects for future performance in the oil sector based on recent developments in the industry. Special emphasis is placed on the effects of the continued evolution of the organizational structure of the Russian oil industry in the post-Soviet period, as well as the impacts of change in energy pricing policies on demand and oil-sector revenues. The coverage concludes with a near-term forecast of output for the Russian Federation up to and including the year 2000. 2 figures, 10 tables, 37 references. Journal of Economic Literature, Classification Numbers: L71, L95, Q40.

Turnaround in Russian Oil Production in 1997

“…Russia's oil sector experienced a severe depression during the economic transition period. By 1996, Russian oil production had plunged to only about 301.3 million metric tons (mmt), a level barely half (52.9 percent) of the peak output achieved in 1987 (of569.5 mmt) (Sagers, 1996). Beginning in 1990Beginning in , and accelerating in 1991Beginning in and 1992, Russian oil production had been on a steep downward descent.…”

Privatization of Rosneft': A Research Communication

“…Purneftegaz is the newest production association to be established in West Siberia, being formed in the late 1980s with the accelerating pace of development north into the Yamal-Nenets Autonomous Okrug (see Sagers, 1996).…”

“…It was through Sakhalinmorneftegaz that Rosneft' ended up with the 40 percent stake in the large Sakhalin-1 offshore development project with Exxon and Sodeco-17 percent through Sakhalinmorneftegaz and 23 percent through Sakhalinmorneftegasshelf. Exxon and Sodeco each hold 30 percent in the project (see Sagers, 1995Sagers, , 1996). …”

Developments in Russian Crude Oil Production in 2000

“…A production-sharing agreement was signed on the project, covering the development of the Chayvo, Arkutun-Dagi, and Odoptu fields, in 1995 (Sagers, 1996). This productionsharing agreement was also "grandfathered" under the Law on Production Sharing, and also declared to be "implemented" in June 1996.…”

“…It is not intended as a broad survey of Russian oil sector policy or an economic analysis of the sector, although both areas must be addressed to some extent. Rather, similar to an earlier review (Sagers, 1996), this paper mainly represents a geographically organized account of Russian crude oil production trends, with a focus on major developments by high-profile producers. Dokumenty, Fakty, No.…”