Rusneftegaz can announce that we have appointed Igor Migunov in the newly-created position of Director of International Operations, and will commence his new role with immediate effect. This post will ultimately bear responsibility for the execution of our wider global expansion plans, the results of which are expected to be disclosed in the weeks and months ahead. In response to his appointment, Igor Migunov stated:
“I am very proud to have been promoted to this prestigious position. I have been delighted with my time working with Rusneftegaz so far, and I hope that it continues long into the future. I would like to thank the directors personally for putting their faith in me; their contributions to this work so far have been invaluable. I hope that I am able to continue this good work, and I am excited to put together a team capable of delivering the results expected of me.”
Migunov has worked as Deputy Chief Operations Officer for Rusneftegaz since his appointment in 2016, where he acted as the understudy to board member, Vitaliy Kalyuzhniy. During this time, he has taken on a broad range of portfolios, including overseeing petroleum extraction at our sites in the Komi Republic and the Khanty-Mansi Autonomous Okrug, in addition to arranging considerable and complex oil sales. Migunov has extensive experience in this industry, both in Russia and abroad, having previously taken leadership roles at Gazprom Neft and at trading companies across Europe. Following his promotion, Deputy Chief Executive Officer, Aleksandr Filyurin remarked:
"Since Igor joined us three years ago, he has done some outstanding work, and it was inevitable that we would go far within our organization. I think it is fair to say that we have worked hard to establish this new business plan, but there is no doubt in my mind that Igor is the right man to take it forward. It is also worth mentioning that this is the first time a senior leadership position has been created at Rusneftegaz for over six years, and Igor is more than befitting that position. I would also like to take this opportunity to thank the other members of the board, and all the other members of staff, that have helped make this plan a success so far."
This new directorate will be tasked with furthering our extensive relationships with foreign governments, particularly in the Middle East and North Africa, where we shall continue to collaborate with our local partners. Migunov will not only be charged with continuing this work, but also advancing it further, both in the jurisdictions where we presently to do business and beyond. Commencing operations in new countries and regions is a fundamental tenet of our current commercial strategy, which has been in effect since its revision in 2015. Thus, the Director of International Operations will also be charged with establishing an international trading hub, the creation of which is now in the final stages. This new office, which is projected to begin business early next year, is expected to drive significant increases in revenues from the sale of crude oil and refined products in both domestic and global markets.
Both this project, in addition to a simultaneous international expansion of our electricity generation operations, has been under research for the past three years, with material investments committed to ensure its long-term success. The enlargement of our energy business is set to begin with the acquisition of power plants in developing countries, the purchase of which Migunov is expected to manage accordingly, in conjunction with an overhaul of these assets to meet contemporary economic and environmental standards. To fulfill this, the director will be appointing a team to assist him with these vital tasks, and will be spending his time working between our office in Moscow and our new international trading hub accordingly. Any vacancies that subsequently arise will be advertised on this website and via our partners in due course.