Russneft releases annual report 2022

In 2022, Russneft increased its production: by 3.4% to 6.91 mln. MT for oil, and by 5.4% to 295 mln. m3 for gas. 3.8 mln. MT (55% of the total production) came from HTR (hard-to-recover reserves). The total gas production was 2.22 bln. m3 including 295 mln. m3 of natural gas, and 1.927 bln. m3 of associated gas.

In 2022, the company added 39 mln. MT of recoverable oil reserves increasing its oil resources to 626 mln. MT.

The investments amounted to ~RUB 26 bln., EBITDA is ~RUB 54 bln.

In 20922 the company drilled 97 wells producing 587,000 MT of oil, and installed 68.2 km of pipelines.

"I would say we have an anti-crisis plan for 2023. The macroeconomic situation is hard to predict. We should be ready for new challenges. Some projects will have to be suspended for a while. Still, we should preserve the potential for future breakthroughs. It is our development strategy," noted Yevgeniy Tolochek, President, in his New Year address published in the RussNeft corporate newspaper.

As part of the sustainability program, the oil company restored 43 hectares of forest, planted over 172,000 pine seedlings, and released over half a million of young fish species.

RussNeft is one of the Top 10 Russian largest oil companies in terms of oil production. The company operates its assets in the key Russian oil and gas fields (Western Siberia, Volga-Urals, and Central Siberia) and Azerbaijan. SFI owns 11.2% of the company.