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March 1, 2004

Surgutneftegas has a two-year plan to almost double gas processing

The annual producing capacity of the Company’s gas processing facilities will have been increased by 2006 from 3.8 bcm to 7 bcm. This growth will be due to placing “Gas Processing Unit (GPU) #3 with a Turboexpander” in service in the 3rd or 4th quarter of 2005.

Throughout the first quarter of this year the Company is inviting tenders to bid for the delivery of in-line equipment for the unit. All equipment to be purchased will be of Russian origin, except for process-control system, critical shutoff and regulating valves and pumps. To assemble the third phase of the GPU will cost USD 30 mn – 35 mn, with the payback period of four years and a half.

Once the GPU-3 is put into operation, the Gas Processing Division will be able to produce 500 thousand tons of liquid hydrocarbon. To give liquid hydrocarbon marketing a new impetus, the Company is planning to construct a loading dock with an annual throughput capacity of 500 thousand tons. The GPU-3 is designed to process gas which is initially compressed at gas compressor stations located at Lyantorskoye oil field. During spring and summer of 2003 the Company’s Gas Processing Division processed on a trial basis gas, which was pumped through a booster compressor from two gas compressor stations located at Lyantorskoye oil field. The trial test proved successful.

The running of the turboexpander will make it possible to use the energy of compressed gas to increase the efficiency of gas processing. There will be no major changes in the Company’s delivery of residue gas to Surgut electric power plants, but due to the application of the turboexpander and low rate of purchased electric power the Gas Processing Division will additionally produce 200 thousand tons of liquid hydrocarbons.

Press Service of OJSC “Surgutneftegas”




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