Glossary: Key Terms, Definitions & Acronyms
ADR of Gazprom Neft
American Depositary Receipt, issued on shares of Gazprom Neft. One ADR is equivalent to five common shares of Gazprom Neft.
Associated petroleum gas – a form of natural gas.
The Asia-Pacific region. This includes the nation states of continental Asia, the Americas and the Pacific Rim.
Associate company, associate
A company in which Gazprom Neft Group holds at least 20% of voting shares (for a joint-stock company) or 20% of registered capital (for a limited liability company).
Estonia, Latvia and Lithuania.
Barrels of oil equivalent.
Thermal catalytic refining of petroleum fractions to produce high-octane gasoline.
Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.
Commonwealth of Independent States: all former Republics of the USSR, except Estonia, Latvia and Lithuania.
Compressed natural gas.
Refining of liquid and solid fuels by heating them in the absence of air. As the fuel decomposes, it produces solid coke and volatile particles.
Digital trading site.
Differentially specific method of electric research.
Net profit before interest, tax, depreciation and amortization.
FSFM of Russia
Federal Service for Financial Markets.
FTS of Russia
Federal Tariff Service.
Gas processing plant
Gas and/or condensate refining plant.
Gazprom Neft Group, the Group, Gazprom Neft
All companies of the Group that comprises JSC Gazprom Neft (the parent company) and its subsidiaries.
Geological surveying for exploration purposes.
Hydrocarbon reserves in categories À+Â+Ñ1
Explored reserves according to the Russian classification. Represents the part of geological reserves that it would be economically efficient to extract at the date of the estimate, based on the market situation and rational use of modern equipment and technologies, and taking into account requirements for protection of mineral deposits and the natural environment. Explored reserves of gas in categories À+Â+Ñ1 are viewed as fully recoverable. For reserves of oil and gas condensate, an extraction coefficient based on geological and technical factors is used.
Hydrocarbon reserves in categories Ñ1+Ñ2
Category Ñ1 represents reserves of oil and gas proven to exist in standalone wells, with favorable industrial and geological data for other wells. Category Ñ2 represents reserves of oil and gas, the existence of which is suggested by geological and geophysical information within known gas-bearing areas. Reserves of category Ñ2 are preliminary estimates that are used to plan detailed survey work at specific fields.
A cracking technique used in refining of crude oil fractions with a high boiling point, fuel oils or tar oil to make gasoline, diesel fuel and jet fuel, lubricant oils etc.
Injection of water at high pressure to a bedrock formation in order to increase the size and extent of fractures.
Purification of petroleum products to remove organic sulphuric, nitric, and oxygen-based compounds using molecules of hydrogen. Hydrotreatment raises the quality of petroleum products.
ISO 14001 Standard
International standard for environmental protection that sets requirements for environment management quality and is used to work out legally compliant environmental policies. The standard regulates environmental aspects of corporate activities that are controllable and require monitoring. This is a voluntary standard that does not supersede legislated requirements.
Khanty-Mansiysk AD (KhMAD)
Khanty-Mansi Autonomous District – Yugra.
Liquefied natural gas.
Liquid petroleum gas.
Cubic meter of natural gas, measured at pressure of one atmosphere and temperature of 20°Ñ.
Mineral extraction tax.
Moscow Interbank Currency Exchange.
Selling price less shipping and handling.
Nation-states other than the CIS and the Baltic states.
Polymer-bituminous binding materials.
Unproven reserves, which are less likely to be extracted than probable reserves, based on the analysis of engineering and geological date. There must be at least 10% probability that actual production will be equal to or more than the estimate of proven, probable, and potential reserves.
Crude oil distillation using atmosphericvacuum devices. Crude oil enters the distillation columns to undergo an atmospheric pressure distillation process, which splits it into a number of fractions: light and heavy gasoline fractions, kerosene fraction, diesel fraction, and fuel oil as a residue. The quality of the obtained fractions does not meet standards for marketable petroleum products, so the fractions must undergo further (secondary) refining.
PRMS and SEC international standards
International classification and estimate of hydrocarbon reserves by the standards of the Petroleum Resources Management System (PRMS) and US Securities and Exchange Committee (SEC).
Unproven reserves, which are most likely to be extracted based on the analysis of engineering and geological data. There must be at least 50% probability that actual production will be equal to or greater than the estimate of proven and probable reserves.
Prospecting and exploration drilling
All prospecting and exploration drilling carried out during the reporting period, including total distance drilled in wells, which have been fully drilled or are in the process of being drilling, but will be completed in the next reporting period.
Quantities of liquid, gaseous and solid hydrocarbons, which, according to engineering and geological information, are most likely to be produced by industrially available methods from known deposits starting from a specific date, under the existing economic conditions, with generally accepted operating techniques, and in compliance with applicable effective national regulations.
Production sharing agreement.
Research and development.
A refining indicator defined as the percentage ratio of obtained petroleum products, not including bulk fuel oil, to the original quantity of crude oil.
Refining output capacity
Maximum possible output by a plant unit in a specific period.
Gross increment of proven reserves, divided by total production in the period.
Russian Trading System (stock exchange).
Siberian light crude oil.
Ton of conventional fuel (carbon equivalent), equals 877 m3 of natural gas.
Unified gas supply system. The Russian gas pipeline system, owned by JSC Gazprom.
Dollars of the United States of America.
Value added tax.
Vertically integrated oil company.
Yamal-Nenets AD (YaNAD)
Yamal-Nenets Autonomous District.
Yaroslavl Refinary Slavneft-ANOS.