21.02.2006
"Interfax"
In 2006 RussNeft scope of investments in the Saratov region will come to RUR900 million, the company says in a statement.
The amount of taxes to be paid by the holding company to the consolidated budget of the region in 2006 is planned to reach RUR 442 million.
Such terms are specified by 2006 cooperation agreement between Oil Company RussNeft OAO and Saratov region administration signed Tuesday.
The document sets priorities in the interaction between the parties aimed at social and economic development of the region and of the company’s subsidiary Saratovneftegaz OAO.
According to the President of the company Mikhail Gutseriev, “the agreement is a practical step towards modernization of the company’s producing asset.”
As reported earlier, on December 22nd of 2005 RussNeft assumed operational control over the assets bought from TNK(РТС: TNKO)-BP which included Saratovneftegaz OAO. In the structure of RussNeft there are 30 producing enterprises, 3 oil refineries, 2 transport companies, and a retail network comprising 300 gas-filling complexes. The company’s entities are found in 17 regions of Russia and CIS.
The total recoverable reserves of RussNeft exceed 630 million tons. Its annual oil output has reached 17 million tons.
