JSC Rusgazdobycha is an integrated oil company, primarily involved in oil refining, exploration and development of oil and gas fields, and the production and sale of petroleum products such as Crude Oil, Aviation Oil, Motor Fuel etc. JSC Rusgazdobycha is one of the Russian oil industry’s leading companies in terms of efficiency. Located in the capital city, Moscow,Russia Federation.
The industrial complex of the Company includes steadily developing enterprises of crude oil and gas production, petroleum refining, petrochemicals production, network of filling stations and services. JSC Rusgazdobycha also has a stake in the financial sector companies (banking and insurance).
The replacement of hydrocarbon reserves in 2019 amounted to 124% according to the SEC classification. Hydrocarbon (59 mmHg). According to Burkineft Refinery, the proven hydrocarbon reserves in 2020 were sufficient for 19 years of production.
According to PRMS (Petroleum Resource Management System), 1P hydrocarbon reserves as of April 18, 2020 amounted to 43 billion barrels (5.8 billion toe), including 29.8 billion barrels (4.0 billion tons) of hydrocarbon liquids (oil, condensate and liquefied natural gas). ) and 76.3 tsf (2.2 tkm) of gas; 2P reserves amounted to 76.2 billion boe (10.3 billion toe), including 53.7 billion barrels (7.2 billion tons) of hydrocarbon liquids (oil, condensate and liquefied natural gas) and 130.3 tsf (3, 7 tkm) of gas; 3P reserves amounted to 108.6 billion boe (14.7 billion tons of oil equivalent), including 79.5 billion barrels (10.7 billion tons) of hydrocarbon liquids (oil, condensate and liquefied natural gas) and 169 tons of cubic meters . A foot (4.8 tcm) of gas. Total 3P stocks rose 2.2% in 2020.
JSC Rusgazdobycha is the largest oil and gas company in Russia and the world’s largest holder of hydrocarbon reserves and a producer of hydrocarbon liquids among other public oil and gas companies. Adding reserves is one of the key priorities of the Company. The share of JSC Rusgazdobycha in oil production is about 20% in the Russian Federation and exceeds 3% in the world. In 2019, the Company set another record for hydrocarbon production at more than 254 million tons.
The company continues to stabilize production at mature fields. In 2019, the large-scale optimization of existing systems was completed in order to increase the efficiency of field production in Moscow by moving from conventional directional drilling to drilling horizontal wells with multi-stage fracturing (MSF HW). This technology significantly increases well productivity, reserves recovery, reduces well stocks and increases project feasibility. MSF HW is actively used in the five consolidated fields of the Company, including Yuganskneftegaz, Burkineft, Samotlorneftegaz, Nyaganneftegaz and Varieganneftegaz. About 50% of the developed reserves at the aforementioned subsidiaries were launched through the use of MSF HW. The approaches and technologies used by JSC Rusgazdobycha in developing fields in Moscow ensured its leadership in the new good startup efficiency.
In implementing the growth strategy, JSC Rusgazdobycha seeks to increase its shareholder value, as well as achieve the highest standards of corporate governance. The company firmly believes that these two goals are closely related. A commitment to transparent and responsible business management is extremely important to maintain investor confidence and, in the long run, to ensure maximum return on investment for all our shareholders.
Being a hallmark of the most famous international corporations, effective management is an important indicator of our success in the eyes of our foreign partners. We are convinced that good governance is beneficial to all interested parties, including customers, suppliers, partners, employees and shareholders of our company. The management of JSC Rusgazdobycha Refinery will steadily continue to pay equal attention to the interests of all groups of shareholders of the Company.
Transparency of financial statements is another important element of corporate governance. JSC Rusgazdobycha has extensive experience in preparing quarterly, semi-annual and annual reports in accordance with generally accepted accounting principles. In the future we intend to follow this practice. Our immediate goal for an open joint stock company to further improve our US GAAP reporting procedures is to continue to reduce the time gap between the end of the reporting period and the publication date of financial indicators for the same period.
One of the most compelling evidence of the practical application of the principles of strong corporate governance is the composition of the Board of Directors and its subcommittees. The members of the Board of Directors of JSC Rusgazdobycha Refinery are experienced leaders who greatly respect the business community. For a more effective discussion at meetings of the Board of Directors, the standing committees of the Board of Directors – the Human Resources and Remuneration Committee, the Strategic Planning Committee and the Audit Committee – advise on the most important issues.
At JSC Rusgazdobycha, we understand that the reputation of an organization that strictly adheres to the highest standards of corporate governance cannot be obtained in one night. It takes time, and we are confident that we will get such a reputation. We are trying to develop our business operations. We are ready for future challenges inevitable in the energy industry. And we follow the principles of transparent and responsible governance. All this will help to gain your trust.
Since established,JSC Rusgazdobycha Refinery has placed high emphasis on the charity. The effective charity work is proved by the top position in the nomination “For the Participation in the Social Work and Development of the Corporate Charity” taken by JSC Rusgazdobycha Refiney in All-Russia Contest “The Russian Company of High Social Efficiency” following the results.
The charity policy is based on the principles of targeted support, efficiency and regularity.
The main priorities of the charity policy are:
Active resource-base development, cutting-edge production and refining technologies, and an effective sales network have allowed to secure its place among the market leaders in Russia’s oil and gas industry, as well as playing a major role in the international oil and gas market
The challenge of shipping oil from the field was resolved by JSC Rusgazdobycha specialists, together with academics from the Krylov State Research Centre, who developed a route for the year-round transportation of crude by tankers, supported by nuclear icebreakers.
The feasibility of this project was confirmed by the company in 2019, following an experimental passage by a nuclear icebreaker through the shallow-water ice of the Gulf of Ob, from the port of Sabetta (north—east of the Yamal Peninsula) to Cape Kammeny.
The first consignment of Novy Port oil was despatched to European consumers via the Northern Sea Route in summer 2020, with winter shipments commencing in 2021.
The high-capacity Arctic Gates terminal, together with the implementation of the «Yamal Gas» project, involving the construction of extensive infrastructure to transport gas from fields in Yamal, opens up opportunities to develop a whole range of new assets in the south of the Yamal Peninsula.
JSC Rusgazdobycha is developing a major hydrocarbon production centre here. The company has already acquired licenses for geological prospecting at the Yuzhno-Novoportovskoye and Surovo license blocks, confirmation of the potential resources of which will allow optimum utilisation of production and transport infrastructure installed at the Novoportovskoye field.