News

For 7 months of 2006 production at ZAO Sobolinoye has been over 250 thousand of oil. These figures are the result of hard work. Though Oil and Gas Company RussNeft’s subsidiary is younger than two years old, the indicators, achieved in production and social area over this time are impressive. Around 800 thousand tons of oil are produced. Major part of production construction is fulfilled, around 10 thousand metres of deep wells are drilled, 4 new wells were put into operation, 4 are output from conservation, and total overhaul of 27 wells is fulfilled. Thanks to geological and engineering operations around 120 thousand tons of oil are produced additionally. The geological and engineering operations fulfillment resulted in a 7.2 million ton increment of oil reserves. Formidable amounts of funds are allocated to environmental measures, welfare programmes, charity. Despite of all the difficulties of the planned production decrease and severe winter, the company continues operating and is

On August, 27 on the threshold of Oil Industry Worker’s Day Saratovneftegas - a major subsoil user - was distinguished by having produced the 1 000 000th ton of oil from the beginning of the year. Today RussNeft’s Saratov subsidiary exceeds the production business target by over 1 200 tons.

On September, 4-5 the 6th joint session of Russian-Arab Business Council (the RABC) will take place in St. Petersburg. The organizers point it out that over 20 heads of Chambers of Commerce and Industry of Arab countries, businessmen and presidents of leading Russian and foreign companies are invited to participate in the international forum. The Russian delegation of the forum will be headed by President of Chamber of Commerce and Industry of Russia Evgeniy Primakov and President of the RABC, Chairman of the Board of Directors of JSFC “Sistema” Mr. Vladimir Evtushenkov. President of Republic of Kalmykia Kirsan Ilumzhinov, President of Chechen Republic Allu Alkhanov, President of OAO Oil and Gas Company RussNeft Mikhail Gutseriev, Ministry of Foreign Affairs and Ministry of Economic Development and Trade of Russia representatives will join the Russian delegation as well.

OAO Oil and Gas Company RussNeft head company’s revenues reached the point of 53.77 billion rubles in the first half year 2006 according to RAS (Russian Accounting Standards). It has increased by 2.1 against the index of January – July, 2005, company’s report says. The pre-tax profit has increased by 1.58 and reached the point of 11.4 billion rubles.

OAO Oil and Gas Company RussNeft’s consolidated net profit has increased by 50% - 6.49 billion rubes in 2005 against 2005 according to Russian Accounting Standards (RAS), company’s quarterly report says.