Bashneft

JSOC Bashneft is an emerging Russian vertically integrated oil major, Тор-10 in oil production and Тор-5 in oil refining. Bashneft’s production is sold in Russia as well as exported to Eastern and Western Europe, Kazakhstan and Ukraine.

Exploration and Production

The Company holds licenses to develop more than 170 oil and gas fields in the Republic of Bashkortostan, Khanty-Mansiysk Autonomous Area, Nenets Autonomous District, Orenburg Oblast and the Republic of Tatarstan. In February 2011 the Company received a license for geological exploration and hydrocarbon production of acreage that includes the Roman Trebs and Anatoly Titov oilfields with total recoverable reserves in categories C1 and C2 of 140 million tons (more than 1 billion barrels).

An audit of 96.6% of the Company’s ABC1 reserves, accounting for 98.5% of daily output, conducted by Miller & Lents Ltd. to PRMS criteria, showed Bashneft to have, as 31 December 2010, proved oil reserves of 1,912 million barrels representing a reserve life of 19 years. Proved and probable (2P) reserves were 2,322 million barrels. Total reserves (including possible) amounted to 2,947 million barrels.

In 2010, Bashneft maintained its position as the leader among the Russian oil majors by rate of production growth, having achieved an increase of 15.6%, to 14.1 million tons of crude oil.

Refining and Petrochemicals

Bashneft’s refining capacity consists of three oil refineries – JSOC Ufaneftekhim, JSOC Novo-Ufimsk Refinery (Novoil) and JSOC Ufa Oil Refinery – and the petrochemical company JSOC Ufaorgsintez. The Company’s refineries occupy leading positions in Russia by standard of equipment, refining depth and the quality of petroleum products output.

In 2010, Bashneft’s refineries processed 21.2 million tons of crude oil, an increase of 2.2% over 2009. Average refining depth was 86.3% – the highest level among domestic VIOCs in 2010.

Product Sales

In 2009 the Company’s created its own commercial service and ceased to provide fee-based refining services for third-parties.

The most part of petroleum products are sold on the domestic market as well as on export through wholesale.

Bashneft currently conducts small-scale wholesale and retail sales of petroleum products through oil-storage facilities and more than 440 own filling stations of three marketing enterprises – JSOC Bashkirnefteproduct, JSOC Orenburgnefteproduct and Bashneft-Udmurtia LLC, as well as through 12 regional branches of CJSC Bashneft-Region, and more than 180 filling stations with which it has partner relationships.

In the future, the Company plans to significantly expand the reach of its retail and small wholesale fuel marketing in priority regions.

Share Capital

The Company’s Charter Capital is represented by 83.09% of ordinary shares and by 16.91% of type-A preferred shares. Shares of Bashneft are traded on an organized market in Russia MICEX-RTS. As of 31 December 2010 main shareholders in terms of Charter Capital were Sistema Corporation with 52.1% and Sistema-Invest with 20.9%. The rest Charter Capital is divided between other legal entities (including nominees) and individuals in the amount of 23.9% and 3.1% respectively.

 
 
Журнал «Три дня»

Three Days magazine 2011 Three Days magazine 2010 Three Days magazine 2009 Three Days magazine 2008
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