News

Izhevsk. Belkamneft, a subsidiary enterprise of OAO NK RussNeft, has successfully fulfilled social obligations before Udmurt regions, investing in 2011 more than 12 million rubles in social and economic development.

Moscow. The State has different attitude towards private and state-owned oil companies, thinks the president and co-owner of RussNeft (PTC: RUSN) Mikhail Gutseriev. “From the point of view of the State, attitude to Gasprom neft (РТС: SIBN) and, let us say, Bashneft (РТС: BANE) will be entirely different”, - he said at the Forum “Russia 2012”, organized by Sberbank (РТС: SBER) and Troika Dialog.

Moscow. NK RussNeft (РТС: RUSN) in 2011 increased its net profit according to IRFS by 17% - up to $673 million, the company reports. RussNeft revenues increased by 23% and amounted to $5.536 billion. OIBDA indicator during the reporting period increased by 34% and reached $1.547 billion. The amount of debt has decreased by 15% - from $6.208 billion to $5.061 billion.

Moscow. RussNeft increased oil production in 2011 by 5.6 % as compared with the previous year - up to 13.6 million tons, according to the Company’s press-release / In 2012 the copany intends to raise production volume by 3% - up to 14 million tons. The production growth became the result of successful implementation of large-scale drilling programs in the regions of operation of a number of the holding’s upstream companies – in West Siberia, the Tomsk region, Udmurtia. Thus, during the accounting period there were drilled 186 wells, including 34 horizontal wells, the meterage reached 550.210 thousand meters. Due to the new wells the aggregate production increment amounted to 1 523 thousand tons of oil. Oil production growth was also promoted by implementation of workovers program.

Saratov. OAO Saratovneftegaz, OAO NK RussNeft subsidiary, continues to implement effective APG utilization program. A range of measures at Malinoovrazhnoye oil field makes it possible to utilize APG by 100% even today.