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"Belkamneft" is going to direct the net profit for 2008 for the development

22.06.2009 "Interfax"

Izhevsk. It's said in press-release of the Company, that on June 4 at the Annual meeting the shareholders of OAO "Belkamneft" (the subsidiary enterprise of OJSC Oil and Gas Company "Russneft" (RTS: RUSN), Udmurtia) decided not to pay dividends for 2008, and to direct the net profit in the amount of 490,55 million Rubles for the development.

Following the results of 2007 the Company hasn't also paid dividends and directed the net profit in the amount of 307,654 million Rubles for the development.
In 2009 ZAO "Auditorskaya Kompaniya" was appointed as the auditor for 2009.
As it is reported in press-service of the Company, in 2008 the group of companies of "Belkamneft" has produced 3 million 931,32 thousand tons of oil. Earlier it was said, that output in 2007 made 3 million 995,794 thousand tons. Thus, the oil production in 2008 reduced by 1,6%.
In 2009 "Belkamneft" is going to guarantee support of oil output by implementation of base production maintenance projects, geological and engineering operations projects and drilling of new wells".
Oil and Gas Company "RussNeft" carries out hydrocarbon production in Udmurtia via its subsidiary enterprises - ОАО "Belkamneft", ОАО "Uralskaya Neft", ОАО "Udmurt National Oil Company", ОАО "Udmurt Oil Company".


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