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The stock gain of "RussNeft" in 2008 exceeded oil production by 40 %

27.01.2009 "Interfax"

Moscow. January 27. INTERFAX-АNI - In 2008 NК "RussNeft" (RTS: RUSN) added 20 mln tons of new oil reserves, told Alexander Korsik, the Chairman of the Board of the Company, in his interview to the corporate publication "Vremya"RussNefti".

"Our geologists secured the increase of oil productive capacity in the amount of 20 mln tons", - he said.
Formerly it was reported, that oil production of "RussNeft" in 2008 made 14,246 mln tons. Thus, the stock gain of the company exceeded oil production by 40%.
In 2008 "RussNeft" struck oil in the Saratov Region (Luzyaninskoye oilfield), extended the limits of Gurarinskoye oilfield in the Tomsk Region. The company has also struck substantial oil reserves in Tagrinskoye oilfield in Western Siberia. The increase of recoverable reserves at Zapadno-Malobalykskoye oilfield made 5 mln tons.
As explained by А.Korsik, in autumn the company dismantled debts for tax in the amount of 25 bln Rubles, and also satisfied obligations to the banks in the amount of more than 7 bln Rubles.
As it was told in the interview to the publication by Oleg Shchegolev, the First Vice-President, by the end of the year the company has set up 7 centres of oil production, which unite the operator and some subsidiaries, the business relations between which are built on the basis of an arrangement.
On the basis of the extractive enterprises in Central Siberia there was formed a group "Tomskaya Neft", which comprises " Tomskaya Neft " and "Sobolinoye".
In Western Siberia there was formed 3 centres - on the basis of "Varieganneft" ("Belye Nochi"), "Aganneftegazgeologia" ("Chernogorskoye", "Goloil", "Mokhtikneft") and "Aki-Otyr" ("Archneftegeologia").
The Ural group is formed on the basis of "Belkamneft", which includes "Uralskaya Neft", "Udmurt National Oil Company" and "Udmurt Oil Company".
In the Volga Region there were formed 2 centres - "Saratovneftegaz" and "Ulyanovskneft" ("Nafta-Ulyanovsk", "Nefterazvedka" and "Penzaneft").



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