PJSC “RUSSNEFT” INCREASED ITS INVESTMENTS INTO THE INFRASTRUCTURE 4.6 TIMES UP TO 1.1 BILLION RUB IN JANUARY

10.02.2017 RNS

Following the performance results in January 2017, PJSC “RussNeft” allocated 1.095 billion RUB of capital investments into construction of the fields development infrastructure facilities which is 4.6 times greater against the previous year.

Construction of 3 new well pads and extension of 4 operating well pads were completed in the first month of this year, as well as 20 km of infield oil pipelines and 10 km of motor roads were built.

Construction and installation works are performed under the operation program for development of Tagrinskoye, Verkhne-Shapshinskoye, Sredne-Shapshinskoye, Roslavlskoye and Poselkovoye fields.

PJSC “RussNeft” ranks among the six largest Russian oil companies by crude oil production in Russia. The company possesses a well-balanced asset portfolio located in key Russian oil&gas provinces (West Siberia, Volga-Urals and Central Siberia) as well as in Azerbaijan. Total 2P reserves of the company exceed 200 mln tons (SPE), 2015 production was 7.9 tons including the Azerbaijan assets. 75% of the charter capital (67% of the ordinary shares) of the company belong to Belyrian Holdings Limited and its subsidiaries under the beneficiary ownership of the Gutserievs. 25% of the charter capital (33% of the ordinary shares) of the company belong to Swiss Glencore and its subsidiaries.

PJSC “RUSSNEFT” INCREASED ITS INVESTMENTS INTO THE INFRASTRUCTURE 4.6 TIMES UP TO 1.1 BILLION RUB IN JANUARY

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