RussNeft C1 reserves addition in 2012 exceeded its production output by 12%

The Company’s oil production output in 2012 increased up to 13.9 million tons. Therefore, RussNeft’s reserves addition in 2012 exceeded the production by 12%.

The Company’s production in 2012 grew 1.7% against the previous year.

RussNeft increased production in Tomsk region by 54% up to 1.045 million tons. The Company intends to set up and develop a new production hub based on the Tomsk region fields which will considerably add to the traditional production regions of the holding.

Development of Shapshinskaya group of fields in KhMAO is a strategic project of the Company. The oil production there was 1.4 million tons in 2012. This year, RussNeft intends to increase the crude production at Shapshinskaya group by 7% up to 1.5 million tons.

In 2012, RussNeft performed 3D seismic surveys in Mauritania and Azerbaijan. Besides, RussNeft obtained last year a certificate from the Ministry of Energy and Mining of Algeria for exploration in the republic. The Company emphasizes that hydrocarbons fields of CIS and Africa are within its interests.