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Presence in Komi of such strong proprietor as RussNeft is interesting for the Republic

07.10.2005 "Komiinform"

– Head of the region Vladimir Torlopov

Presence in Komi of such strong proprietor as NK RussNeft OAO is interesting for the Republic, Head of Komi Vladimir Torlopov said October 7 in a statement made upon signing a cooperation agreement between the region and the oil company.
As Komiinform was told at the press-service of the Republic’s government, V. Torlopov described the company as quickly developing and quite known both in Russia and abroad. “To the Republic there has come a company in which work professional people and I am especially glad that this is an ambitious company,” pointed out the Head of the region. He also said that the conclusion of the agreement would facilitate tackling matters of employment, tax proceeds and social services. In this connection V.Torlopov expressed his confidence that the cooperation between Komi and RussNeft will continue to develop.
In his turn the oil company President Mikhail Gutseriev noted the “we have come to the Republic for a long time if not for ever”. “Our plans are ambitious, though consistent,” said the Head of RussNeft. In the nearest future the company plans to bring the oil output of the region up to one million tons per year. Much attention will be given to geological exploration, “as for social sphere and taxes it’s a just cause”, added M.Gutseriev. The Head of RussNeft also stressed that the company intended to work in the context of the program which V.Toropov outlined as the Head of the Republic.
*** NK RussNeft OAO is a vertically integrated oil holding company and placed among the ten first-rate oil and gas companies. RussNeft’s total recoverable reserves exceed 600 million tons. The annual oil output has reached 15 million tons.
RussNeft has been working in Komi since 2003 via its oil producing subsidiary Komnedra OAO.
Komnedra’s commercial quality feed recoverable reserves amount to 9.5 million tons of crude oil. In the region the company relies on the Vostochno-Rogozinsky license site and the Masterielsk oilfields.

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