Management of “RussNeft” in 2009 is going to achieve stability of financial status at the account of implementation of the package of anti-crisis measures

The company is planning to concentrate at the oilfields with stable production growth. At that the target figure for reduction of lifting costs is 30%.
Besides, in 2009 ”RussNeft”  will go on investing in upgrading of its own refineries, considering it the company’s strategic target to bring the depth of oil  refining to the figure of 92%, says the company’s report.
In order to increase efficiency of work, optimize costs and create a transparent corporative structure in 2008 NK “RussNeft” embarked on a program of assets restructuring, based on association of the company’s subsidiaries into business-units (blocks) by regional principle. The target model of NK “RussNeft” contemplates setting up five blocks on the basis of the existing assets of the company: two in Western Siberia and one at each of the following regions: Udmurtia, Tomsk region and Central Russia – Volga Region. In 2008 the majority of subsidiaries undertook corporative procedures necessary for making decisions of their corresponding reorganization.
OAO Oil and Gas Company “RussNeft”  is numbered among top ten oil and gas enterprises of the country. Annual production volume in 2007 reached the level of 14.2 million tons. Annual throughput of the refineries amounted to 7.4 million tons. Net effective pay of “RussNeft” exceeds 600 million tons.
 RussNeft’s structure encompasses 21 producing plants, 2 refineries, an oil terminal in Briansk Region, as well as 96  gas filling stations in Orenburg Region The company’s plants are located in 14 regions of Russia and the CIS.
The charter capital of the company amounts to 100 million rubles. 100 thousand of ordinary shares with nominal value 1 rubles are emitted for this sum.