OAO Belkamneft Allocates Over 2 Bln Rubles to Udmurt Budget

Consequently, Group reaching a 4 mln ton point forecasted, a record level for Belkamneft, has been proven. Geological and engineering operations at the sites provided continuing oil production growth. 25 oil wells have been put into operation at OAO Belkamneft oil fields since the beginning of the year. OAO Belkamneft chief executive officer Vladimir Ignatko points it out that successful fulfillment of the production plans have predetermined financial relationships between the Udmurt Republic and the Group. OAO Belkamneft allocated 12 bln 403 mln rubles to the budgets of all levels. Upon the agreement formed between the Udmurt government and OAO Oil and Gas Company RussNeft in 2006 the company was obliged to allocate 1.6 bln rubles to the Republic Budget, the actual sum amounted to 2.018 bln rubles.