New Oil Production Technologies increases authorized capital to RUB 5.327 billion

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AK&M 04 August 2020 23:31


New Oil Production Technologies LLC, a company established by PJSC LUKOIL, Gazprom Neft PJSC and PJSC Tatneft, has increased its authorized capital to RUB 5.327 billion from RUB 15 million, according to the Unified State Register of Legal Entities.

To recap, LUKOIL, Gazprom Neft and Tatneft completed the deal for creating a joint venture focusing on the search and production of hard-to-recover hydrocarbon reserves in Orenburg region.

PJSC LUKOIL (tax number: 7708004767) is Russia's second largest oil producer. The largest block of the company's shares is owned by its management.

IFRS net profit of LUKOIL for 2019 attributable to the company's shareholders increased by 3.4% to RUB 640.2 billion from RUB 619.2 billion a year earlier. The company's sales revenue for 2019 decreased by 2.4% year-on-year to RUB 7.841 trillion from RUB 8.036 trillion.

Gazprom Neft PJSC (tax number: 5504036333) and its subsidiaries own 61 licenses for the prospecting and development of oil fields. The proven oil reserves in the company's fields exceed 4.5 billion barrels. The company's largest shareholder is Gazprom Group.

IFRS net profit attributable to the shareholders of Gazprom Neft PJSC for 2019 increased by 6.2% YoY to reach RUB 400.201 billion versus RUB 376.667 billion a year earlier. Revenue was RUB 2.485 trillion decreasing by 0.2% YoY from RUB 2.489 trillion). Adjusted EBITDA (earnings before interest, tax, depreciation and amortization) stayed flat YoY at RUB 795.1 billion, despite negative price dynamics and adverse market trends.

IFRS loss of PJSC Gazprom Neft for Q1 2020 attributable to the company's shareholders amounted to RUB 13.806 billion against a profit of RUB 107.894 billion a year earlier. Revenue decreased by 12.2% to RUB 514.568 billion from RUB 586.359 billion, EBITDA by 54.6% to RUB 81.376 billion from RUB 179.052 billion.

PJSC Tatneft (tax number: 1644003838) is one of the largest Russian oil companies today and is an internationally recognized vertically integrated holding. The industrial complex of the Company includes steadily developing enterprises of crude oil and gas production, petroleum refining, petrochemicals production, the tire-manufacturing complex, network of filling stations and services. Tatneft also has a stake in the financial sector companies.