October 2006

27.10.2006
Administration of Saratov Region and OAO Oil and Gas Company “RussNeft” will Continue Cooperation
Moscow, October, 27. /RusEnergy/. Industry and Energy Ministry of Saratov Region started preparing a new draft project of Agreement on Cooperation between the Administration of the Region and OAO Oil and Gas Company “RussNeft” for 2007.

At the moment, within the frameworks of the existing   Agreement for 2006, the subsidiary of OAO Oil and Gas Company “RussNeft”, “Saratovneftegas”, is implementing measures aimed at scaling up of oil and gas production at the territory of the Region as well as social and welfare programs

Industry and Energy Ministry have reviewed the process of implementation of the Agreement during the 9 months of this year.  The review showed that oil production volume inclusive of gas condensate exceeded 940 thousand tons which makes up about 72% of the planned production for 2006.

OAO “Saratovneftegas” has completed production drilling for the total sum exceeding 45 million rubles. Investments in reconstruction and upgrading of the main producing capacities of the plant amounted to approximately 260 million rubles, or 73% of this  year target sum.

“ OAO Saratovneftegas”  fulfills  its social obligations meeting the schedule on earlier dates: during the 9 months of this year about 37 million rubles was allocated for welfare purposes, to finance regional social programs, this figure exceeds the sum planned f0r 2006 by 90%.

Source: "RusEnergy"