EFTA Document EFTA01367380

31 May 2015 Integrated Oil US Integrated Oils Pi 111171( y GiCiWth Drivers Volume growth will be chiefly driven by managing declines at various mature fields in West Siberia and a handful of moderately-sized project start-ups in the Timan-Pechora (Trebs and Titov), Sakhalin (Arkutun-Dagi), and North Caucasus (Vladimir Filanovski) basins. In total we estimate growth projects to grow-term near-term production of -120 Mb/d (2016 vs. 2014) Primary Risks In our view, the key risk to near-te