RussNeft increased its net profit by 17% in 2011
Moscow. NK RussNeft (РТС: RUSN) in 2011 increased its net profit according to IRFS by 17% - up to $673 million, the company reports. RussNeft revenues increased by 23% and amounted to $5.536 billion. OIBDA indicator during the reporting period increased by 34% and reached $1.547 billion. The amount of debt has decreased by 15% - from $6.208 billion to $5.061 billion.
Oil production volume amounted to 13.6 million tons, which exceeds the analogues figure of the year 2010 by 5.6%. Growth in output was due to the implementation of large-scale drilling programs in regions where a number of producing enterprises of the holding carry put their activity – in Western Siberia, Tomsk Region, Udmurtia.
In 2012, the Company plans to increase production output to 14 million tons (an increase of 3% by 2011). One of the key outcomes of NK RussNeft activity during the reporting period – is the effective implementation exploration programs. Last year, as well as in 2010, increment of commercial reserves fully compensated production and amounted to 15.014 million tons under C1 category. Two new oil pools and one oilfield were discovered.
The volume of investments in construction and development of gas infrastructure of the holding amounted to 1 billion rubles. In total, the volume of capital investments of the holding last year reached 16 billion rubles, which is 33% higher as compared with the analogues figure in 2010. The company is planning for the current year – an increase in investments up to 17.4 billion rubles (increase by 14% by 2011).
In 2012, the Company plans to increase production output to 14 million tons (an increase of 3% by 2011). One of the key outcomes of NK RussNeft activity during the reporting period – is the effective implementation exploration programs. Last year, as well as in 2010, increment of commercial reserves fully compensated production and amounted to 15.014 million tons under C1 category. Two new oil pools and one oilfield were discovered.
The volume of investments in construction and development of gas infrastructure of the holding amounted to 1 billion rubles. In total, the volume of capital investments of the holding last year reached 16 billion rubles, which is 33% higher as compared with the analogues figure in 2010. The company is planning for the current year – an increase in investments up to 17.4 billion rubles (increase by 14% by 2011).
More news
All Show allRussNeft increases oil production in the first half of the year by almost 2%
up to 3.043 million tons
International Forum "Russian Energy Week - 2025"
"Russian Energy Week" is the world's leading industry event, bringing together officials, businessmen and experts to discuss the fuel and energy sector development.
RussNeft reported on the planned stocking of rivers in the Khanty-Mansiysk Autonomous Okrug
The company's press service reported on the completion of work to replenish the Ob River basin with fish resources. 1.1 million young nelma and muksun were released.