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Company in Mass Media

"Rus Oil" provided itself with oil in Yugra


"Rus Oil" company expands its raw material base owing to new license sites in Khanty-Mansi Autonomous Okrug (KhMAO, Yugra). Drilling on the fields won at the auctions with participation of "Surgutneftegas" and "Rosneft" is planned to start in 2017. Experts consider that new projects have a good potential as all sites are located near producing assets of "Rus Oil" group and near the oil pipeline. Analysts estimate investments into development at maximum total amount $100 million.

"Rus Oil" closed deals on purchasing sites in KhMAO with 20 million tons of oil reserves, the company’s representative reported to "Izvestia". Thus, total reserves of the oil producer have grown up to 167 million tons.

Assets are in close proximity to Gustorechenskoe and Multanovskoe fields in KhMAO which are managed by "Rus Oil" since 2013. Active development and drilling on new assets will begin in 2017, "Rus Oil" reported.

According to the company’s representative, as a result of the deal "Rus Oil" will run six companies, namely Binshtokovskoe, Zapadno-Multanovskoe, Yuganskoe-16, Yuganskoe-18, Yuganskoe-19 and Yuganskoe-21 license sites.

Licenses for production of hydrocarbonic raw materials for every site have different validity periods, the longest of them is till December, 2038. According to open data, the total amount of the deals is 1.9 billion roubles.

According to experts, purchasing these sites will give good synergy effect as all of them border with each other and are in close proximity to the producing fields of the company. Besides, among other benefits there is a ready-for-operation unified oil-transport system.

250.2 million tons of oil were produced in the territory of Yugra in 2014, and 243.1 million tons in 2015. Industry experts explain reducing production of energy resources by gradual exhaustion of base reserves.

Alexey Kalachev, the expert-analyst of "Finam", notices that the company’s plans to start development of the sites in 2017 in such conditions look realistic and the first oil can go to the pipe in the latter half of the next year.

— About $30 million for the sites with proved 20 million tons reserves is absolutely inexpensive, about $1.5 per a ton, or about 20 cents per a barrel of reserves. Even taking into account costs for additional exploration, development and industrial drilling which can be $50-100 million on the top of that, net cost of production will be quite low for "Rus Oil," — Kalachev considers.

According to him, management of the company holds to the strategy of purchasing reserves in geographical proximity to developed fields that gives additional synergy between assets and allows to save on development of the sites, and – owing to availability of the oil pipeline nearby – on transportation of produced oil as well. — Considering that the sites purchased at the auction require geological study and technological development, that is quite costly as such, the amount of 1.9 billion roubles for them seems to be an average market price.

About 250-500 million roubles on the top of that will be required for the primary technical study of the fields and the initial phase of work on them. Further investments to the fields will depend on the character of rocks in the places of drilling. The company declares that drilling can start in 2017, but it appears that it will happen not earlier than the middle of 2018 — Anna Bodrova, the senior analyst of "Alpari" company, noticed.

According to her, at present the proximity of the oil pipeline to the fields has no special value, but it will be important when production of the first oil comes close.

Dmitry Lukashov, the analyst of "IFC Markets", noticed that one ton of reserves cost to "Rus Oil" 95 roubles.

— In my opinion, it is quite an adequate price taking into account costs for production and field facilities construction. I believe that costs for geological exploration will be small — about 6% of all costs. The main expenses will be required for field facilities construction and drilling. They can be approximately equal to the amount which was paid for purchasing the field, or about 2 billion roubles. And oil extraction on new sites can begin in 3-4 years, — the analyst considers.

"Rus Oil" company was formed in 2013. Now several oil and gas entities in the Western and Eastern Siberia, Yakutia, KhMAO and Nenets Autonomous Okrug are under control of the company. Among them are "Dulisma", "Polyarnoe Siyanie", "Gustorechenskoye", "Irelyakhneft", "Razvitie St. Petersburg", etc. The entities have different forms of ownership and shareholder structures. The Director General of the company is Sergey Podlisetsky. Oil extraction of the company is 3.5 million tons a year. In 2017 extracting 5 million tons is planned.