Bashneft

The Bashneft Group, including JSOC Bashneft and its subsidiaries and affiliates, has announced its preliminary unaudited consolidated financial results for Q1, 2012 prepared in accordance with International Financial Reporting Standards (IFRS). Net income attributable to the parent company’s shareholders in Q1, 2012 amounted to US$ 444 million, thus exceeding the amount of Q1, 2011 by 20%. In Q1, …

On May 4, the President of JSOC Bashneft Alexander Korsik and the Governor of the Nenets Autonomous District Igor Fyodorov visited the Trebs oilfield and inspected the implementation of emergency response activities. An oil spill happened on April 5 during an exploration well reentry. The Governor Igor Fyodorov held a work meeting in the construction workers’ camp at the Trebs oilfield. At the …

Up to 2,000 tons of oil have spilled from a major field in northern Russia after workers struggled to contain the leak for two days, officials said. The accident happened at the Trebs oil field in the Nenets Autonomous District on Friday following work on an exploratory well. The oil …

Bashneft represented by its subsidiary LLC Bashneft-Polus and the Administration of the Nenets Autonomous District have signed a Cooperation agreement today. The document was signed by Igor Fedorov, the Governor, representing the Administration of the Nenets Autonomous District, and by Vitaliy Litvinenko, the CEO of LLC Bashneft-Polus, representing Bashneft. The agreement signing ceremony was attended by Alexander Goncharuk, the Chairman of the …

Due to the fact that the media have published information on an enquiry from the State Duma deputy about alleged violations during the process of granting JSOC Bashneft a license for the development of a subsoil area including the Trebs and Titov oilfields, about alleged violations during the transfer of the license for this oilfield to LLC Bashneft-Polus, as well as about …

Record-breaking daily rate exceeding 500 tons oil was achieved on the Ilishevskoye oilfield in the Republic of Bashkortostan after JSOC Bashneft commissioned a horizontal oil well targeting Radaev-Bobrikov formation. It is the first time in over 20 years that such a flowrate is achieved at Bashkir oilfields. «The results of drilling at the Ilishvskoye oilfield dispel the long-held notion that today there are only marginal wells left …

At the meeting held on February 27, the Board of Directors of JSOC Bashneft discussed the progress of the action plan for monitoring the Company’s key material flows. The plan was launched at the end of 2010. It is aimed at minimizing losses during production, transportation and storage of oil, improving the accuracy of measuring commercial and interplant raw material, semi-finished and end product …

Bashneft was recognized as winner of the auction held today by the Department of Subsoil Use of the Nenets Autonomous District (NAOnedra) and was granted the rights to geological exploration, finding, surveying, and production of hydrocarbons of the Yangareiskiy and Sabriyaginskiy subsoil blocks. The company will make a one-time payment …

Bashneft has placed series 04 certificated interest-bearing non-convertiblebearer bonds (the state registration number 4-04-00013-A of 29 September 2011) with a total par value of 10 billion rubles and obligatory centralized custody. The bonds have a maturity period of 10 years (3640 days) and a put option after 3 years. Investors have placed 34 orders for series 04 bonds with …

JSOC Bashneft has announced the results of an annual independent audit of the Company’s oil reserves conducted by Miller and Lents, Ltd. according to the international PRMS classification (Petroleum Resources Management System). According to the audit results, as of 31 December 2011, JSOC Bashneft’s proven reserves amount to 1 983.5 million barrels of oil, the replacement ratio of proven reserves is 167% and the Company …