Third of Udmurtia’s Oil Production Growth in 2004 Ensured by RussNeft’s Enterprises
In 2004 over the territory of the Republic were produced 9.4 million tons of crude oil which is 9.8% more than in the year before last (RF growth factor is 9%)
In 2004 over the territory of the Republic were produced 9.4 million tons of crude oil which is 9.8% more than in the year before last (RF growth factor is 9%)
A third of the oil output, or three million tons, was produced by Belkamneft OAO. 2004 was its first year of operation within Mikhail Gutseriev’s holding Russneft. At that the annual growth in oil production of the entire Republic amounting to 840 thousand tons was to 60% ensured by the production growth at Belkamneft. During the last year the company managed to acquire two stakes in Udmurtia, they are Uralskaya Neft and Udmurt National Oil Company.