Russia's Varandey terminal oil exports drop nearly half of year before

Jan 12, 2012 12:00 AM

The special designed offshore ice resistant oil terminal exported only 3,91 mm tons of crude oil in 2011, nearly half of the year before.
The Varandey oil terminal of the coast of Nenets Autonomous Okrug, operated by LUKoil, is designed to handle much more oil than was shipped out last year.

The terminal has a huge tank farm onshore receiving oil by pipes from the onshore Yuzhno-Khylchuyu oil fields.
From the tanks, the oil is pumped 22 km offshore to the fixed loading platform where tankers are loaded with the oil.

Russian oil shipment expert, Alexei Bambulyak with Akvaplan-Niva in Norway told last autumn the reason for less oil export out of the Varandey terminal is the overestimation of the reserves at Yuzhno-Khylchuyu oil field.
The production at the oil field decreased much earlier than expected and since that field is the main supplier of oil to Varandey, the export decreases correspondingly, Bamulyak said.

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