News

Ulyanovsk. OAO Ulyanovskneft, a subsidiary enterprise of OAO NK RussNeft, starts the implementation of a project on the equipping Severnaya group of oilfields with high-speed data transfer channel.

Khanty-Mansiysk. OAO NAK AKI-OTYR, subsidiary of OAO NK RussNeft, implements a program for associated gas utilization. The program provides for an increase of the effective utilization of the associated gas up to 95%.

Moscow. RussNeft, by means of tough economy, intends to pay off its debts three years ahead of time – by 2017. But it will be hard for the Company to increase production having investments of $500 million per year, experts warn. RussNeft approved a strategy that provides for redemption of all debts (summing currently up to $4.8 billion) by 2017 given the oil price of $90/barrel, Mikhail Gutseriev, President and owner of 49% of the Company, stated.

Bethlehem, Palestine. ОАО RussNeft, ranking 10th among largest oil companies of Russia, has adopted the development strategy until 2017 with annual investment amount no greater than $ 500 million, said Mikhail Gutseriev, the President and the co-owner of the Company.

Bethlehem (Palestine). By the end of 2012 the debt of RussNeft (RTS: RUSN) will decrease to $4.3 bln, by 2017 the Company is going to pay off its debts in full with the oil price of $ 90 p/b, RussNeft President Mikhail Gutseriev said.