Oil and Gs Company RussNeft Meets its Financial and Social Obligations to the Ulyanovsk Region
Under the cooperation agreement that was signed by the governor of the Ulyanovsk region Sergey Morozov and president of oil and gas company RussNeft Mikhail Gutseriev on April, 19 2005, in July-December 2005 RussNeft’s subsidiaries OAO Ulyanovskneft and ZAO Joint Venture Nafta-Ulyanovsk, operating in the region, allocated profit tax of over 240 million rubles to the regional budget and for ten months of 2006 this sum has exceeded 285 million rubles. Mineral Extraction Tax of company’s subsidiaries for nine months of 2006 has been around 60 mln rubles.
Among key points of cooperation between the government of the Ulyanovsk region and OAO Oil and Gas Company RussNeft under the agreement are the improvement of investment climate and the creation of favourable conditions for region’s social problems solving. RussNeft helps the region perform welfare programmes, allocates substantial funds to charity measures. For instance, in 2005 the company allocated funds for capital repairs of residential schools of Ulyanovsk, Novoulyanovsk, Bazarnosyzganskii, Nickolaevsky, Cherdaklinsky and Kuzovatovsky regions. Moreover, RussNeft made a donation of 20 medical cars UAZ to medical care institutions of the region.
The oil and gas company participates aggressively in Programme of socio-economic development of the Ulyanovsk region, adopted for 2006. This year RussNeft has allocated 17 million and 50 thousand rubles to capital repairs, public services and amenities as well as equipment acquisition for 18 social area facilities of Ulyanovsk region’s municipal entities where its subsidiaries operate. The company has also funded the initial stage of Spaso-Voznesensk Cathedral construction, having allocated 10 million rubles for that. RussNeft has allocated 1 mln 406 thousand rubles to the improvement of oil and gas workers’ park in Ulyanovsk. The oil and gas company has invested substantial funds to support the football club Oil worker from Novospassk.
The government of the region considers OAO Oil and Gas Company RussNeft a major strategic partner of the Ulyanovsk region. ‘It is beyond our doubt that positive practice of cooperation between the region and the oil company will broaden, -deputy head of Ulyanovsk region government Alexander Pinkov said.- And the results of our effective cooperation with RussNeft will not only help improve economic and welfare situation of our region in general but also will have a favourable influence on lives of all Ulyanovsk region inhabitants.’