Oil Prices (today)
Urals $54,368 per bbl.
Brent $55,830 per bbl.
Oil Prices (yesterday)
Urals $57,033 per bbl.
Brent $58,465 per bbl.
About the Company
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RussNeft today (its standing in the industry)
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Every 30th ton of oil produced in Russia
Annual production of 13.9 ln. tons of crude oil
Annual gas production 2.120 billion cbm
Recoverable reserves of more than 600 ln. tons
24  producing assets
1 transportation company
Active in 11 regions of Russia, the CIS and West Africa countries
More than 17, 000 jobs


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NK RussNeft was established in September 2002.

During 2002 -2003 the Company consolidated its business by acquiring promising upstream assets. Initially the Company was aimed at setting up a high-performance competitive structure, leadership in the Russian oil and gas sector and securing well-being of the Company presence regions



During the second stage of its development (2004) RussNeft integrated its own and newly acquired subsidiaries into a unified production structure. At the same time the Company actively and persistently increased its resource basis by acquiring new assets. In 2004, due to the effective management and consistent development policy, OAO NK RussNeft was able to increase its crude oil production five times bringing it to 10 mln tons and to rank among the top ten oil companies of Russia.



In 2005 the Company accomplished the main goal of establishing vertical integration. That year proved to be the most fruitful in the story of the Company.
                - bought 2 oil refineries;
                - increased its resource base by 70%;
                - commissioned oil loading terminal in Bryansk Region;
                - became the leader at the fuel market of Moscow and Moscow Region;
                - successfully issued  its  bonds.

In 2006  NK RussNeft focused on stabilizing oil production rate and preparing for intensive drilling in 2007. Commercial development of Nizhne-Shapshinskoye oilfield was started. Orsk oil refinery modernization allowed increasing the amount of oil refined by 30 %. This has been achieved by upgrading the technology of gasoline production and catalysts upgrade at the reformer. At the same period the refinery launched production of Euro-3 Diesel. As a result, in 2006 RussNeft managed to enter international market by signing an agreement with SOCAR on joint exploration of Zykh-Govsany oilfield in Azerbaijan.


In 2007the Company maintained its position among the top ten oil companies of Russia. RussNeft managed to stabilize oil production output at 14 mtpa and average daily production at 39 thousand tpd considering new oil fields development and work at the existing ones. It became possible due to balanced development strategy for new highly-productive wells, application of new effective production technologies in West Siberia and active interventions at the brownfields of Volga region and Udmurtia.
In the oil refining segment the Company managed to accomplish large-scale upgrade of its production capacities and reach 7.4 mtpa for refining. Modernization of some key refinery facilities allowed the Company to offer more competitive oil products of European quality to the market and actively develop oil chemistry projects: mineral motor and transmission oils and lubricants of RussNeft brand. 

In 2008 the achieved targets formed the basis for enduring the global crisis. RussNeft managed to increase 2008 hydrocarbons production (14.2 million tons + 0.55%) against overall industry decline, to increase refining output (7.5 million tons + 2.4%) and increment raw material base (+ 5% by 20 million tons of C1 category). The total volume of oil products retail sales through own RussNeft distribution network made 650.8 thousand tons (+ 11%) in 2008.
The Company continued implementation of geologic and exploration programs aimed at incrementing Holding resource base. In 2008 a number of discoveries were made - Luzianinskoye oilfield in Saratov region and new deposits within Tagrinskoye (KhMAO), Roslavlskoye (KhMAO), Belokamennoye (Saratov Region) and Gurarinskoye (Tomsk Region) oilfields. Consolidated revenue exceeded 8 billion USD. RussNeft settled all the existing tax claims and completely fulfilled its liabilities for acquiring the inaugural loan bonds, provided for buy-out. 

In 2009 Holding was mainly focused on the anti-crisis program implementation: substantial reduction of costs and expenditures, control over expenses and optimization of financial and commodity flows with regard to market environment, implementation priority for investment projects with average pay-off period, power supply, logistics and contractors services efficiency improvement. The Company preserved a number of key exploration projects in Western Siberia, in Saratov region and in the republic of Udmurtia. The total amount of RussNeft 2009 investments into exploration programs was 558.984 mln RUR. Major investments were focused on Western Siberia, Khanty-Mansi Autonomous Area 308.551 mln RUR. Exploration well was drilled in the North of Tagrinskoye oilfield (Severneft-Yarainer) and 3D seismic of 130 km2 was acquired at Verkhne-Shapshinskoye oilfield (Aki-Otyr) under Company exploration program. Other focus areas of exploration program are drilling of an appraisal well at Luzianinskoye oilfield (Saratovneftegas, Saratov Region), seismic works at 600 linear kilometers at Pavlovsky area (Ulyanovskneft, Ulyanovsk Region); 3D seismic for 35 km2 of Pionersky license area (UNNK, Udmurtia). Company plans to stabilize oil production at the target level are closely connected with the implementation of drilling  programs. In 2009 RussNeft performed drilling works in Western Siberia at Shapshinskaya group of oilfields; in Saratov region at the new Luzianinskoye oilfield; in Udmurtia at Tsentralnoye oilfield.

The year 2010  became critical in RussNeft history. For the first time in recent years the investment program of the Holding increased by more than 60%; the reserves growth increased by 280% as compared to the year 2009; geological exploration works grew by 20%. 123 new wells were commissioned, drilling volumes increased by 88%. For the first time since 2008 Holding team managed not only to stop production decline but also set sustainable growth trend for hydrocarbons daily production rate. 2010 production was 13 mtpa, which was 300 K tons more than that of the previous year. Company Refining sector managed to resolve the main task secure oil products delivery to the domestic and foreign markets. Holding managed to increase refining rate by 100K tons (+2%) compared to 2009 by improving subs economic efficiency, meeting current and future quality requirements and replacing  outdated equipment. In 2010 RussNeft established reliable technological base for Euro-3 motor oil production on the basis of Orsknefteorgsintez.
In 2010 Company export increased by 470 K tons, and sales through its own retail outlets in Orenburg Region grew by 200 K tons. It should be noted that RussNeft fuel quality meets Russian technical regulations and EU REACH.

In 2011 the Company managed to increase oil production volume by 5.6% as compared with the analogous figure of 2010 -  13.6 million tons. The production growth dynamics substantially exceeded the industry average figure among other VIOCs. The production growth became the result of successful implementation of large-scale drilling programs in the regions of operation of a number of the holdings upstream Companies in West Siberia, the Tomsk region, Udmurtia. Thus, during the last year 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 1 523.327 thousand tons of oil. It stands to mention that last year the Company put into operation 151 producing wells with the average daily flow rate of about 78 tons. Oil production growth was also promoted by implementation of workovers program. On the whole, the number of interventions performed at the oilfields of NK RussNeft amounted to 1592. The result of the interventions added to the total production volume 956.276 thousand tons of oil.
At the same time the Company prepared for mounting drilling rigs and equipped 40 well pads. Besides, there were laid 205 km of pipelines and constructed 65 km of power lines.
One of the key results of NK RussNeft activity in the accounting period is efficient implementation of exploration programs. In 2011 as well as in 2010 production was completely compensated by increment of commercial reserves, which amounted for category C1 to 15.014 million tons of crude oil. Two new oil pools and one oilfield were discovered. The acquired seismic amounted to 1150 km2
In the passed year NK RussNeft paid special attention to more effective utilization of associated petroleum gas (APG) as well as to the programs of natural gas production, gas processing and gas energy. The volume of investments in construction and development of gas infrastructure of the holding amounted to 1 billion rubles. On the whole, in 2011 the Companys enterprises produced 2.15 billion cbft of gas. (+20%)
The investment volume of the holding in 2011 amounted to 16 billion rubles, which exceeds the analogous figure of 2010 by 33%. 
In 2011 NK RussNeft stabilized its financial standing. Accurate and consistent fulfilment of  the undertaken liabilities and  competent financial management enabled the holding to reduce its debt by 15% - from US$ 6.208 billion to US$ 5.061 billion.

In 2012, RussNeft celebrated 10-year anniversary of its foundation. The holding met the jubilee year with new achievements. The volume of the oil produced by the Company in 2012 was 13.9 million tons which was 1.7% greater against the previous year. The Company has stayed among the industry leaders on the production increase rates for the last two years. The hydrocarbons production grew due to the effective implementation of operation programs at the fields of Western Siberia and Tomsk region.
Thus, RussNeft increased its oil production in Tomsk region in 2012 by 54% up to 1.045 million tons (against 696.5 thousand tons in 2011).
Another strategically important operation project for OAO NK RussNeft is development of Shapshinskoe group of fields. The cumulative production at those licenses in 2012 was 1.4 million tons. OAO NK RussNeft will increase the oil production in 2013 at Shapshinskoe group of fields by 7% up to 1.5 million tons.
The production grew also due to successful implementation of the large-scale drilling programs. The cumulative oil growth due to start-up of 138 new producing wells was 1172 thousand tons.
An important outcome of the year was the start-up of commercial operation at Novo-Aganskoe and Poselkovoe fields. 7 producing wells were drilled at Novo-Aganskoe field and 3 at Poselkovoe.
In 2012, NK RussNeft continued to carry out projects for better efficiency of the associated petroleum gas (APG) utilization as well as  programs for natural gas production, gas processing and gas power generation. The most important gas projects, implemented in 2012, included development of the design and estimate documentation for construction and upgrade of 117 facilities; construction of an inter-field gas pipeline at Shapshinskoe group of fields; installation of 59 gas metering units; revamp of 15 flare systems.
One of the key results of NK RussNeft activity in the reported period was the effective implementation of the exploration works. In 2012, the 1+2 reserves addition significantly exceeded the production (by 49%). It is to be noted that the resources recovery is a priority for the holding and the Company compensates the produced oil with exploration.
3D seismic works were performed in Mauritania and Azerbaijan in 2012 within the OAO NK RussNeft participation in foreign projects. Another significant outcome was that OAO NK RussNeft obtained certificate from the Algerian Ministry of Energy and Mines for exploration works in the republic.
One more important result of the year was assignment of international ratings to the Company.
Standard & Poor's international rating agency rated NK RussNeft B+/ruA+ with positive outlook.
Moodys international rating agency assigned a corporate family rating (CFR) and probability of default rating (PDR) of Ba3 to RussNeft. The outlook on the ratings is stable. Besides, the Company was rated on Aa3.ru national scale.



Copyright "RussNeft", 2005.
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