News

Saratov. Rosnedra has extended OAO Saratovneftegas (РТС: SNFG) (a subsidiary of NK RussNeft " (РТС: RUSN) the term of license for the use of subsoil resources with the aim of oil and gas production at Sokolovogorskoye oil and gas deposit in Saratov, the company informs.

Mockow. This is the way the head of the Palestinian government Mahmoud Abbas highlighted the substantial contribution of the head of RussNeft into development and consolidation of Russian-Palestinian relations, strengthening of friendship and trust between the peoples.

Ulyanovsk. OAO Ulyanovskneft, a subsidiary enterprise of OAO NK RussNeft, starts the implementation of a project on the equipping Severnaya group of oilfields with high-speed data transfer channel.

Khanty-Mansiysk. OAO NAK AKI-OTYR, subsidiary of OAO NK RussNeft, implements a program for associated gas utilization. The program provides for an increase of the effective utilization of the associated gas up to 95%.

Moscow. RussNeft, by means of tough economy, intends to pay off its debts three years ahead of time – by 2017. But it will be hard for the Company to increase production having investments of $500 million per year, experts warn. RussNeft approved a strategy that provides for redemption of all debts (summing currently up to $4.8 billion) by 2017 given the oil price of $90/barrel, Mikhail Gutseriev, President and owner of 49% of the Company, stated.