RussNeft and Administration of Saratov Region Signed a Cooperation Agreement for 2006
President of Oil Company RussNeft OAO and Governor of the Saratov region Pavel Ipatov signed today a cooperation agreement for 2006 between the company and the administration of the region, the company’s press-service informed.
The scope of the company’s investments in 2006 aimed at developing its business in the region will come to RUR900 million. At that, the amount of taxes to be paid to the consolidated budget of the Saratov region will come to RUR442 million. The agreement specifies the main concepts of the investment policy of the holding company aimed at implementation of large-scale production projects in the Saratov region. The priorities of these projects are exploration and oil-recovery operations, renovation of field and gathering pipelines, and environment-related activity. In compliance with the document RussNeft shall ensure tax payments to the local budget and support social projects of the region.
In the structure of RussNeft there are 30 oil producing enterprises, 3 oil refineries, 2 transport companies, and a modern retail network with 300 gas-filling complexes. The entities of the company are found in 17 regions of Russia and CIS. Its total recoverable reserves exceed 630 million tons. The annual oil production has come to 17 million tons.