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RUSSNEFT INTENDS TO INCREASE THE INVESTMENTS BY HALF UP TO 25.7 BN RUB. IN 2017

21.02.2017 RNS

RussNeft plans to increase the investments by half against the figures of the last year, up to 25.7 bn RUB., the Company says. According to the results of the last year the investments reached 17.1 bn RUB.

The Company reports, Business Plan for 2017 involves amending production structure for marginality increase.

“Activities on production structure optimization will allow to increase oil production after lifting the restrictions related to the agreements with OPEC countries on production output reduction”, RussNeft says.

RussNeft is among the Top-10 major oil companies within the oil production in Russia. The Company has the portfolio of assets in Russia and key oil and gas bearing regions (West Siberia, Volga and Urals region and Central Siberia) as well as in Azerbaijan. The amount of 2P resources of the Company exceeds 200 mln tons (SPE).

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RussNeft reported on developing cooperation with educational institutions in the Ulyanovsk region.

The company's Ulyanovsk branch shared its experience in organizing systematic work with students from universities and colleges in the region. During regular meetings, students are introduced to the company's structure, employment conditions, and existing support measures for young professionals. Issues related to organizing industrial internships and opportunities for on-the-job training are discussed. Details are provided in a company press release.

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