ABU DHABI, January 16. The Ministry of energy of the Russian Federation does not exclude Refine investment programs, oil and gas companies and their reduction in the current year, said Deputy energy Minister Alexei Teksler.
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“We have monitored all the business plans of companies. Except for a few private companies, none of our major oil and gas companies planned to reduce investment in production. But I must say that all these business plans were built into forecast scenarios of about $50 per barrel. Now the situation is different, therefore all companies conduct stress tests on a lower price. In particular, at $30 per barrel. I do not exclude Refine investment programs of the companies and their reduction in the current year,” he said.
Teksler noted that last year in Russia increased production drilling. “Thanks to him we have achieved growth relative to 2014. This growth of production drilling by us is estimated at around 11.5% in 2015. It will be an important indicator and in 2016,” said Teksler.
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Teksler noted that last year in Russia increased production drilling. “Thanks to him we have achieved growth relative to 2014. This growth of production drilling by us is estimated at around 11.5% in 2015. It will be an important indicator and in 2016,” said Teksler.
He stressed that monitoring of the situation with development drilling will answer many questions about the companies ‘ investment programmes, and about the production.
“I do not exclude that companies will adjust their business plans in terms of investment programs to maintain a positive cash flow and balance given the current limitations of borrowing, the possibility of dividend payments”, – added the Deputy Minister.
Infographics
Prices for Brent crude and the dollar
Prices for Brent crude and the dollar. Infographics
