High status of a millionaire
Tomsk. RussNeft celebrates its birthday in September for the 10th time. OOO Tomskaya neft, which is a part of the holding, participates in the jubilee as well. The Tomsk subsidiary of the vertically integrated company has been demonstrating high rates of growth for the last 2-3 years being a leader on this indicator in the region.
There seems to be no reason to be concerned that such an impetuous development would cease.
RussNeft operates in 11 regions of Russia: Bryansk, Penza, Izhevsk, Saratov, Ulyanovsk, Raduzhny etc. It develops nine fields in Tomskaya region, where OOO Tomskaya Neft produces liquid hydrocarbons.
The company’s subsoil user share in the regional oil production in 2010 was relatively low: it produced 285.8 thousand tons. In 2011, the company produced almost 700 thousand tons increasing its production more than twice vs. 2010. The company targets to reach one million tons production this year thus getting into the top five of Tomsk oil producers.
There are conditions for this. Total amount of investments in this respect this year will be 4.5 billion rubles, according to some reports. The last year figure was not little either – 3.7 billion rubles, given the initial intention to allocate only 2.4 billion. This is comparable with the annual volume of investments of Gazpromneft-Vostok. The funds are mostly used for drilling and technical exploration activities. The company produced around 320-350 thousand tons of oil per annum by means of hydro fracturing and overhauls.
The company’s business plan provides for exploration works: 314 million rubles will be used for this in 2012. Seismic works are scheduled for Verkhne-Salatskoe and Stolbovoe fields (222.8 million). Associated gas utilization efficiency upgrade project is under development (production of APG is over 65 million m3), the actual figure is within 9%.
The company commissioned a pressure oil pipeline connecting Yuzhno-Cheremshanskoe and Verkhe-Salatskoe fields. Central processing facility and oil treatment unit were constructed in Stolbovoe field. Tens of kilometers of roads and overhead power lines were also built.
Drilling has been very intense this year. Annual cumulative headway is expected to be 104 thousand meters which will allow to add more than 40 wells to the producing wells stock. However, the main result of the year for Tomskaya neft will be getting the status of a millionaire.
The personnel is quite qualified for this. A corporate competition was held recently in Raduzhny for the “Best in profession” award in 10 nominations. Forty specialists from the Siberian assets of the company took part in it. Participants from Tomsk were not bad and some of them received awards – O. Plotitsyn, process facility operator (1st place), O. Naumova, chemical analysis laboratory technician, and A. Scherbakov, driver (2nd place), and D. Shtyrlin, electrician (3d place).
The Company marked the corporate jubilee with high performance results. According to estimates, 112.5 million tons of oil and 14.3 bcm of gas were produced, 250 million tons of reserves were explored and 1210 wells were drilled for the 10 years of operation of the holding. 9 billion rubles overall were allocated to social projects these years. RussNeft is within the ten top Russian oil and gas companies.
Due to the crisis and heavy debt liabilities (4.9 billion USD) the annual oil production is now about 13.6 million tons and gas production is 2.1 bcm. However, Mikhail Gutseriev’s company steadily pays off the loans and obtains agreements from banks to reduce the interest rates. It also optimizes its expenses and increases the capital investments aiming at 18 million tons within near future.
The business is diversified. The Company has 24 producing assets, 167 licenses for using subsoil resources. The assets of the holding are focused in the Urals, Volga river region and West Siberia (KhMAO, Tomsk region). The Company operates abroad, runs a project in Azerbaijan, recently obtained a certificate for exploration in Algeria.
Associated petroleum gas processing (the Company participated in construction of a plant near Khanty-Mansiysk) and application of oil producing technologies are among the directions where the activity of RussNeft is the most notable. The effective performance of the Company was recognized late last year with the “Company of the year” national premium in the fuel and power complex nomination.
However, there are other areas where the Company’s activity deserves high appreciation. This is social partnership, support to science and education. The recent noteworthy deeds of RussNeft were opening of the scientific-educational center in Bauman technic university (Moscow), new educational building in Izhevsk oil and gas institute, equipment of schools and hospitals of Saratov and Ulyanovsk regions with computers.
The Company opened the Russian center of Science and Culture in Bethlehem, promised land, with blessing of the patriarch (the project was implemented under the auspices of Imperial Palestine Orthodox Society), and was the general sponsor for the biathlon World Cup. So, the jubilee heroes make also efforts to develop spirituality and support the national sport.