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Oil and Gas
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Electricity
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Geography
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As the largest private oil company in the Russian Federation, Rusneftegaz has significant investments in the exploration and production of petroleum. Our subsidiaries, affiliates and partners are involved in the extraction and processing of hydrocarbons to produce a wide range of petrochemical and oil products, including various grades of liquid and gaseous fuels, lubricants and industrial chemicals. The creation of the Group in 2005 has given the necessary impetus to improve and modernize existing production programs, with the aims of improving production volumes and providing additional resources to develop operative oil and gas reserves. Through our subsidiaries and affiliates, Rusneftegaz operates 26 oil licenses across both the Timan-Pechora basin in the Komi Republic, and also the Khanty-Mansi Autonomous Okrug in the West Siberian petroleum basin, the two richest oil-producing regions in the Russian Federation. At the end of the last financial year, Rusneftegaz conducted an audit of its hydrocarbon reserves conforming to PRMS international standards. The company’s total proved and probable hydrocarbon reserves are estimated at 100 million barrels of oil.
Total oil production in the last financial year was approximately 6.06 million barrels, equitable to $200.0m of oil, creating a strong basis to move forward from in the future. Rusneftegaz currently intends to expand further internationally, in addition to focusing on the long-term development of all existing energy projects. For example, the Group has committed to invest in the next generation of sustainable technologies, and in all production areas there are plans to invest to improve commercial efficiency and raise effectiveness. Furthermore, Rusneftegaz has begun a research project to produce hydrogen, which can be deployed as an alternative to traditional fuels, from existing catalytic reformation techniques, with the intention of becoming the largest commercial producer in the world within ten years. Whilst current attention is centred upon improvements in battery technology and energy storage, the most effective medium to power large vehicles - including airplanes and rockets - involves the reformation of water molecules into useful, hydrogen fuel. Our research and development department is also investigating how to improve current electrolysis technologies, which are used to separate hydrogen molecules from water using electricity. Should these programs successfully result in a decline in the production cost of hydrogen, management projects that the Group could easily become a market leader.
Total oil production in the last financial year was approximately 6.06 million barrels, equitable to $200.0m of oil, creating a strong basis to move forward from in the future. Rusneftegaz currently intends to expand further internationally, in addition to focusing on the long-term development of all existing energy projects. For example, the Group has committed to invest in the next generation of sustainable technologies, and in all production areas there are plans to invest to improve commercial efficiency and raise effectiveness. Furthermore, Rusneftegaz has begun a research project to produce hydrogen, which can be deployed as an alternative to traditional fuels, from existing catalytic reformation techniques, with the intention of becoming the largest commercial producer in the world within ten years. Whilst current attention is centred upon improvements in battery technology and energy storage, the most effective medium to power large vehicles - including airplanes and rockets - involves the reformation of water molecules into useful, hydrogen fuel. Our research and development department is also investigating how to improve current electrolysis technologies, which are used to separate hydrogen molecules from water using electricity. Should these programs successfully result in a decline in the production cost of hydrogen, management projects that the Group could easily become a market leader.
Rusneftegaz currently operates 1 860 MW of coal-fired generating capacity across three 600 MW units in the province of Vologda, as well as a 60 MW diesel generator maintained for standby purposes. The plants were constructed in 2004 to serve the local steel industry, and since they were purchased by the Group have been significantly overhauled to meet modern generation standards. Power generation is now the most lucrative area of Rusneftegaz's business, having become one of the world's leading companies in managing and overhauling thermal power stations by deploying both world-class expertise and innovation. Rusneftegaz has engineered most of the equipment utilized in its plants, significantly reducing costs to maximize the profitability of the plant.
In the longer term, the Group's development strategy is focused on further expansion within the Russian Federation and internationally. Rusneftegaz’s portfolio will be variegated further into more efficient and sustainable technologies, focusing on modern and advanced thermal generation. In 2025, the Group plans to have the capability to manufacture and export power equipment to expedite international expansion. Furthermore, Rusneftegaz is also continuing to implement its current regeneration program of the Group's installed capacity. Thus far, the steam generators have been reconstructed to increase the quality and rate of superheated steam production, and the turbines modernized, ensuring generation is significantly more efficient.
In the longer term, the Group's development strategy is focused on further expansion within the Russian Federation and internationally. Rusneftegaz’s portfolio will be variegated further into more efficient and sustainable technologies, focusing on modern and advanced thermal generation. In 2025, the Group plans to have the capability to manufacture and export power equipment to expedite international expansion. Furthermore, Rusneftegaz is also continuing to implement its current regeneration program of the Group's installed capacity. Thus far, the steam generators have been reconstructed to increase the quality and rate of superheated steam production, and the turbines modernized, ensuring generation is significantly more efficient.
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Average daily oil production
(Barrels, 2020)
Total operating oil licences
(Areas)
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Peak daily oil production
(Barrels, 2020)
Estimated oil reserves
(MMbbl)
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Total petroleum production
(Mbbl, 2020)
Total electricity production
(MWh, 2020)
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Total generating capacity
(MW)
Total capacity utilisation
(% in 2020)
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1 800 MW of the total installed capacity is generated using bituminous coal, 60 MW is reserve capacity utilising diesel oil.