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"TransNeft Oil" is one of the largest private vertically integrated oil companies in Russia bringing together research and design, exploration, drilling and production units, oil refining, gas processing and marketing subsidiaries.

"TransNeft Oil" carries out prospecting, exploration and production of hydrocarbons in three Russian oil and gas provinces - Western Siberia, Eastern Siberia and Timan - Pechora. The Company's production units are fitted with advanced equipment and technologies, adjusted to local geological and climatic conditions and allow the Company to do the full range of necessary work independently.

As a modern diversified company, "TransNeft Oil" responsibly fulfills its obligations to the state, shareholders, business partners and consumers, conducts systematic modernization of production capacities, rationally uses natural resources, consistently addresses environmental safety issues and is deeply involved in social and economic development of the areas of its operations.

Sound resource base, continuous scientific search, latest equipment, breakthrough technologies, in-house hi-tech service units, highly automated technological processes, accumulated tremendous experience and labor traditions as well as the most efficient use of its workforce productive capacity make it possible for the Company to define the prospects for its development.

EXPLORATION AND PRODUCTION


Strengthening and expanding the resource base is one of the Company's strategic objectives. The sound resource base ensures the stability of production activities and achievement of targeted volumes of hydrocarbon production. The Company carries out a significant volume of exploration work, extends the portfolio of licenses showing stable replenishment of oil and gas reserves. When conducting exploration, the Company pays considerable attention to the use of new technologies and equipment, and support of operations by research and development institutes as well as design institutes which make it possible to increase its efficiency.

The Company's fields and license blocks are located in three oil and gas provinces - Western Siberia, Eastern Siberia and Timan-Pechora.

When conducting exploration, the Company pays considerable attention to the use of new technologies and equipment, and support of operations by research and development institutes as well as design institutes which make it possible to increase its efficiency.

"TransNeft Oil" operates oil fields which are located in Western Siberia and Eastern Siberia. In the upstream sector, the Company is committed to ensuring production volumes which allows it to maintain a balance between economic efficiency and rational use of mineral resources. "TransNeft Oil" maintains the production levels at mature fields and actively develops hard-to-recover reserves. At the same time, the Company actively develops promising fields creating new centers of oil production.

Over the past years, the Company has been maintaining a stable level of oil production focusing on the improvement of oil recovery factor which is one of the highest in the country.


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