Bashneft and LUKOIL set up new JV named Oil Company Vostok NAO for the prospecting and development of the licensed fields in Nenetsk reg., the company informed.
Bashneft is obliged to transfer 7 fields to JV. Now Vostok NAO provides prospecting of the entrails which is appraised to demand 5bn rub. of investments.
Bashneft (TIN 0274051582) is a head entity included into the fuel-energetic complex of Bashkortostan. It gushes out the crude in Bashkortostan, Western Siberia and Orenburgsky reg. The proved reserves cover 2.045bn barrel of the crude. Bashneft keeps 279 licenses; 162 fields being under development. The output increased 4.1% to 16.073mln ton. Ufimsky Refinery refined 21.399mln ton of the crude in 2013 which is 3% higher prior year figures.
The 2013 net profit (RAS) boosted 1. 5 fold to 69.124bn rub.; revenues being up 5.7% to 517.4bn rub. to 489.213bn rub.
The 2013-net profit reached 46.17bn rub. (IAS) which is 11.7% below prior year figures due to the revaluation of the investments in Belkamneft; revenues from sales increased 5.8% to 563.296bn rub.; corrected EBITDA - 3.6% to 103.972bn rub. on the growth of raw extraction and export of petroleum products.
The IQ net profit was pushed 2.5% upward to gain 14.418bn rub. from 14.068bn rub; revenues increased 16.5% to 129.974bn rub. from 111.558bn rub.; pretax profit - 5.4% to 18.023bn rub. from 17.109bn rub.