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1. Calendar of Events 2011
Path: Company / CALENDAR OF EVENTS 2011

... Class-4standards. Gazprom Neft commissions phase 2ofthe Yuzhno-Priobskoye gas-turbine power plant inKhanty-Mansiysk Autonomous District. The Company purchases anadditional 5.15% ofthe authorized share capital ofSerbias NIS, raising its holding to56.15%... ... brand, G-Drive. Gazprom Neft-Aero launches aircraft refueling services atManas International Airport (Kyrgyzstan). The Omsk Refinery launches production ofpolymer-bitumen materials. The Company signs anagreement toreduce interest payments onaUSD...


2. Development Strategy
Path: Company / DEVELOPMENT STRATEGY

... Prepare a test production schedule Carry out the geological survey program Field construction plans Our consortium partners executed preparatory work for drilling the first well. The Company also completed all payment orders related tofinancial obligations... ... analysis and management; application of new equipment and technologies; optimizing expenditure; increasing the rate of associated gas use; better infrastructure management; lobbying for tax benefits; natural gas production at cenomanian deposit. Higher...


3. Oil refining
Path: EVENTS 2011 / OIL REFINING

... deeper refining, and to expand the volume and range of products (high-octane gasoline, diesel fuels, aromatic hydrocarbons, coke, modern bituminous materials and petrochemical products). In2011, the Omsk Refinery concluded the first stage ofretrofitting... ... onthe L-24/7 unit for hydrotreatment ofdiesel fuels facilitated adeparaffinization process sothat winter diesel can beproduced from summer fuel. Thanks tothis technology, the plant can now make more than 32,000t ofadditional winter diesel fuel...


4. Innovation
Path: EVENTS 2011 / INNOVATION

... inorder tooptimise the formation pressure system and extract hard-to-recover oil reserves indepleted field areas. The project will take three years, but isexpected toprovide benefits for 10years and produce 62,300t ofadditional crude oil. Additional... ... equipment. The activities in2011 reduced the specific rate ofcorrosion-caused failures inoperating stock from 0.37 to0.16. Over the year, the permanent database onidle wells was improved, corporate databases underwent comprehensive integration; automatic...


5. Key Risk Factors
Path: MD&A / KEY RISK FACTORS

... ofcrude oil and petroleum products. The risks that confront the Company are typical for the oil and gas industry, specifically: Risks related to possible change of prices for purchased materials and services; Risks related to possible changes of prices for... ... infrastructure ofthese monopolistic providers, nor can itcontrol the tariff rates payable. Tariff rates are controlled byRussian Government agencies, but the rates increase from year toyear, creating additional costs for the Company. The Company takes various...