Geologic exploration and production of hydrocarbons (upstream)
The Upstream segment is the key segment for the Zarubezhneft JSC Group of Companies. The Company’s strategic development is based on improvement of asset performance and development of new prospective projects.
CONSOLIDATED INDICATORS FOR THE SEGMENT
The 2018 revenue level was 45% higher than for the previous year. The main factor behind the increase of this indicator was the growth of the average oil price (in 2017 – 16 thous.RUB/t, in 2018 – 23.3 thous.RUB/t) and the increase in sales from the main Russian assets – LLC JV RUSVIETPETRO and LLC ZARUBEZHNEFT Dobycha Kharyaga. On the part of JV “Vietsovpetro”, the significant growth of revenues is due to the increase of the contract price to 75 USD/bbl from May to November 2018 which resulted in a decrease of the JV’s share retained for costs recovery and, therefore, in profit growth.
CURRENT PORTFOLIO OF ASSETS/PROJECTS IN THE SEGMENT
In 2018, Zarubezhneft Group of Companies owned 16 licenses, of which 9 were for prospecting and exploration of hydrocarbons, 2 licenses - for prospecting and evaluation of hydrocarbon deposits and 5 licenses - for geological survey, exploration and production of hydrocarbons. In the reporting year, the licenses of ULN 09135 NE of Slavkinskoye, ULN 14582 NE of Kondakovskoye were renewed for 20 years and NRM 16129 NE of Kharyaga field – for 15 years.
| Projects | |
---|---|---|
SOCIALIST REPUBLIC OF VIETNAM | ||
JV “Vietsovpetro” | Block 09-1, oil fields: | Exploration and Production |
White Tiger, Dragon, White Hare, Polar Bear, White Cat | ||
Block 04- 3, | Production | |
oil and gas condensate Thien Yng - Mang Kau Field | ||
Block 09-3/12 | Exploration | |
Block 12/11 | Exploration | |
Block 16-1/15 | Exploration | |
PVEP | Block 42 | Exploration |
VRJ (Block 09-3) | Conjoint Plot of Block 09-3 and 09-1 South Dragon - Sea Turtle | Exploration and Production |
REPUBLIC OF CUBA | ||
Zarubezhneft JSC subsidiary | Boca de Jaruco oil field | Enhanced oil recovery |
RUSSIAN FEDERATION | ||
LLC “JC “RUSVIETPETRO” | Central Khoreyver Uplift Block 1, North-Khosedayu oil field | Production |
Central Khoreyver Uplift Block 2, oil fields: Visovoye, Verkhnekolvinskoye | Exploration and Production | |
Central Khoreyver Uplift Block 3, oil fields: West-Khosedayu, Sikhoreyskoye, East- Sikhoreyskoye, North-Sikhoreyskoye | Exploration and Production | |
Central Khoreyver Uplift Block 4, oil fields: Syurkharatinskoye, North-Oshkotynskoye, Puseyskoe, South-Syurkharatinskoye, Urernyrdskoye, East-Yanemdeyskoye | Exploration and Production | |
Zarubezhneft-Kharyaga production LLC | Kharyaga oil field | Production |
Orenburgnefteotdacha JSC | Pashkinskoye oil field | Exploration and Production |
Chernovskoye oil field | Production | |
Ul’yanovskneftegaz LLC | Ruzhevskoye oil field, Slavkinskoye oil field, Kondakovskoye oil field, Sulakskoye oil field | Production |
Radischevskiy plot, Yuzhno-Pcheliniy plot | Exploration | |
North-Karasevskoye Petroleum Enterprise LLC | Lutseyakhskoye oil field | Exploration |
