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Rosneft Oil Company in Brief

The leading Russian Petroleum Company

The actual OJSC Rosneft Oil Company (Rosneft) was established in 1993 in Moscow, Russia, as a wholly state owned company under the name of Rosneftegas based on the transfer of assets from the OJSC Rosneft Oil Company (Rosneft).

Then in 1995, Rosneftegas was transformed into open joint stock company (OJSC) called Rosneft Oil Company.

The Russia Governement still owns 75.16% of the company through the OJSC Rosneftegaz company, while the remaining 15% are floated in London and Moscow stock exchanges.

In the following period Rosneft met some difficulties to work as a company and the production declined until 1998.

Some changes were made so that today Rosneft leads the Russia’s petroleum industry.

Rosneft is a fully integratedupstreamdownstream company covering:

 – Exploration and production of hydrocarbons

 – Production of refined petroleum products

 – Petrochemicals

 – Marketing and distribution

Upstream, Rosneft explores and produces in all oil and gas basins in Russia in Western Siberia, Southern and Central Russia, Timan-Pechora, Eastern Siberia and the Far East.

In the years 2000s, Rosneft went overseas to take working interests in Algeria and Kazakhstan.

Downstream Rosneft operates seven refineries manages a retailers distribution network covering the 41 regions of the Russian Federation.

Overseas, Rosneft took 50% of Ruhr Oel GmbH in Germany.

Rosneft main asset is made of its 22.8 billion barrel of oil equivalent (boe) of proven reserves positioning the company as the second world largest company by proven reserves

In addition to covers 25 years production on actual basis, most of these reserves are in conventional oil and gas.

Furthermore, Rosneft holds about the same amount of probable and possible reserves with 23 billion of boe.

From this solid base, Rosneft grew up pretty fast these last years by numbering acquisitions of local companies, in the exploration and production as well as in the downstream side to improve its geographical coverage of its retailers distribution.

In 2011 Rosneft made significant discoveries in the Baykalovsk basin in the Krasnoyarsk region, the Buzerovsk basin and in the Lisovsky basin and the Sanarskoye basin of the Irkutsk region.

The major step change was made in August 2011, when Rosneft signed a Strategic Cooperation Agreement with ExxonMobil to explore the Kara Sea and the Black Sea, as well as to explore and develop other projects in USA with unconventional oil and gas and in other countries.

This cooperation materialized in creating a joint Arctic Research Center (ARC) in St. Petersburg.

In 2012, Rosneft signed similar strategic alliances with Statoil and Eni to set again two goals for growth , the Arctic area in Russia and overseas opportunities in conventional and unconventional oil and gas

Last month Rosneft signed also a Strategic alliance with Gazprom to develop the synergies in the Arctic region and optimize infrastructures to be built to support the Arctic conquest.

Rosneft Key Figures

 – 2011 Revenues: $91,9 billion

 – 2010 Revenues: $63 billion

 – 2009 Revenues: $46,8 billion

 – 2011 Earnings: $12,4 billion

 – 2010 Earnings: $10,4 billion

 – 2009 Earnings: $6,5 billion

 – 2011 Capital Expenditure: $13,2 billion

 – 2010 Capital Expenditure: $8,9 billion

 – 2009 Capital Expenditure: $7,2 billion

Rosneft Projects and Business Highlights

Since Russia is facing a fast maturing situation of its actual oil and gas fields in production, the newly President Putin, mandated Rosneft to speed up the exploration of new fields and the improve the production from actual fields.

The Strategic alliances signed these last months with ExxonMobil, Statoil and Eni, were wisely selected as to provide specific expertise in arctic operations, deep water, unconventional resources and to give Rosneft access to countries so far unknown to diversify its reserves portfolio.

Gazprom stopping Shtokman to ally with Rosneft reflects a transfer of leadership in the Russian exploration and production.

Rosneft’s leadership is also confirmed by its position to buy from BP its interest in TNK-BP which would position Rosneft as one of the biggest and most profitable oil and gas company in the world.

This leadership appears also in Venezuela where Rosneft is step by step taking the operations of the $25 billion Junin-6 project and investing $1.5 billion in Carabobo-2.

Venezuela holds the largest oil and gas reserves in the world ahead of Saudi Arabia and Canada.

Among the priorities in Russia, Rosneft intends to:

 – Start intensive program in Arctic and Black sea

 – Double production in the Vankor field in Eastern Siberia

 – Explore new fields around Yurubcheno-Tokhomskoye field also in Eastern Siberia

 – Develop enhanced oil recovery (EOR)techniques in the mature fields in the Western Siberia

On its own or in partnership with leading international companies, Rosneft is taking momentum to explore and take long term position in all major oil and gas conventional or unconventional plays and thus to build a sustainable global Market Leadership from its actual Russia leadership.

For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer

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