Oil production

The Company possesses a well-balanced portfolio of assets located in the key Russian oil and gas provinces (West Siberia, Volga-Urals and Central Siberia). The АВ1С1+В2С2 reserves of oil and condensate under the Russian classification amount to 632 million tons. At yearend 2024, oil production amounted to 6.093 million tons. As of 31.12.2024, the operating well stock reached 1,900 wells, while the injection stock was 640 wells.

In 2024, a total of 108 new oil wells were commissioned with additional production of more than 562 thousand tons.

GTM on declining well stock allowed to produce additionally more than 340 thousand tons. Well interventions were carried out at 397 wells.

The Company's strategy provides for investment activities aimed at the organic growth of production drilling, bringing new reserves in promising areas into development, the creation of new and upgrade of existing infrastructure, as well as the achievement of stable growth in the medium term.

The main goals of the RussNeft production complex within the framework of the approved development strategy are to ensure stable growth of hydrocarbon production and increase in the resource base.

To achieve these goals, a number of effective production programs have been developed that allow to form an optimal development and production management system and to reduce operating costs.

Key programs and activities:

• Implementation of additional appraisal of deposits and exploration program

• Implementation of engineering and technological solutions for the effective development of low-margin deposits and hard-to-recover reserves (HTR)

• Introduction of innovative methods for intensifying oil production from HTR and increase in oil recovery

• Improving the operation efficiency of mature fields

• Implementation of measures to raise the technological support for oil production process

• Monitoring of field development using permanent geological and hydrodynamic models.