"RussNeft" increased oil production in 2011 by 5.6 % - up to 13.6 million tons
Moscow. RussNeft increased oil production in 2011 by 5.6 % as compared with the previous year - up to 13.6 million tons, according to the Company’s press-release / In 2012 the copany intends to raise production volume by 3% - up to 14 million tons. The production growth became the result of successful implementation of large-scale drilling programs in the regions of operation of a number of the holding’s upstream companies – in West Siberia, the Tomsk region, Udmurtia. Thus, during the accounting period there were drilled 186 wells, including 34 horizontal wells, the meterage reached 550.210 thousand meters. Due to the new wells the aggregate production increment amounted to 1 523 thousand tons of oil. Oil production growth was also promoted by implementation of workovers program.
The investment volume of the holding in 2011 amounted to 16 billion rubles, which exceeds the analogous figure of 2010 by 33%. In the current year the Company is planning to raise the investment volume up to 17.4 billion rubles (+14% as compared with 2011).
According to predictive appraisals of IFRS consolidated financial statements in 2011 the Company’s revenues amounted to US$ 5 536 million, which is 23% more than the analogous figure of 2010. ODIDA index for the accounting period grew by 34% and reached US$ 1 547 million. The net profit amounted to US$ 673 million (+17%). Besides, theholding to reduce its debt by 15% - from US$ 6.208 billion to US$ 5.061 billion.