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Zarubezhneft relies to raise efficiency.

Zarubezhneft relies to raise efficiency of the investment projects management, as it was informed.

Almost all international investment projects were realized in Vietnam, Cuba, Bosnia and Herzegovina as the countries of the strategic interest for Russia. The funds are provided by JV Vietsovpetro.

The foreign investment projects cover 82.4% in the portfolio. Over the last year 11 international investment projects were realized.

In Mar. 2014 BOD approved strategic targets for the development including the refusal from the business diversification and participation in the new low-risk projects.

The 2013-net profit at Zarubezhneft rallied up 47% (RAS) to 7.138bn rub. from 4.865bn rub. prior year, the company informed.

The revenues declined 8% to 30.513bn rub. from 33.138bn rub.; profit from sales - 14.261bn rub. from 16.836bn rub.

Zarubezhneft (TIN 7701350084) is the oldest government wholly-owned entity in the oil/gas sector in Russia. It provides development and realization of oil/gas complex programs and projects abroad. At the participation of the Company rather important objects were built in Syria, Iraq, Vietnam, Libya, Cuba etc.

The Company represents JV Vietsovpetro providing 8mln ton of the crude per year. Besides, it developed joint projects with Gazprom in Vietnam and Rosneft in Middle Asia. The Company is authorized to develop and realize SPA projects.

The 2013-net profit (RAS) increased 47% to 7.138bn rub. from 4.865bn rub.; revenues dropped 8% to 30.513bn rub. from 33.138bn rub.; profit from sales - to 14.261bn rub. from 16.836bn rub.

"AK&M", 18:24, 23.06.2014 1251 AKM,COR


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