Goals for 2015

Given the changed macroeconomic conditions, the Company will focus on improving the efficiency of its business processes. The Company's main objectives for 2015 are to maintain high rates of production growth and refinery efficiency, to further develop premium sales channels, and to enhance the Company’s technological capacity.

Production at mature fields

  • Commissioning three new fields with total initial recoverable reserves of 14.5 million tonnes (Yuzhno-Pudinsky licence block as well as the Vostochno-Myginskoye and the Valyntoyskoye fields).
  • Maintaining a rate of production growth greater than 2014 levels.
  • Increasing production efficiency and rapidly responding to changes in the macro environment.

Implementation of major projects

  • Completing installation and preparation of the Novy Port terminal for year-round oil deliveries.
  • Commissioning the Yaro-Yakhinskaya gas processing plant (with a capacity of 7 billion m3 per year) and the Urengoyskaya gas processing plant (with a capacity of 14 billion m3 per year) across the full processing cycle.
  • Continuing development drilling and increasing production at the Prirazlomnoye and Badra fields.

Refining

  • Enhancing the Company's refining technology on the basis of proprietary research and development projects, including with the creation of a test bed for a unique solid-acid alkylation process, the design of an experimental facility for processing heavy waste products, etc.
  • Determining the feasibility of establishing a modern facility in Omsk for the production of oil refining catalysts.

Omsk Refinery

  • Finalizing preliminary project documentation and beginning construction of the following facilities:
  • deep oil refining facility
  • electric desalting unit (atmospheric-vacuum type)
  • delayed coking unit

Moscow Refinery

  • Starting work on the EPC contract for an integrated oil refining facility.
  • Starting construction of biological treatment plants.

Premium sales channels

  • Continuing the development of the filling station network: purchase of 21, construction of 12, and rebranding of three stations (not including in Europe).
  • Continuing development of:
    • aviation fuel — network of refuelling stations
    • bunkering — network of terminals and the Company's own fleet
    • oils and lubricants — modernization of production and diversification of range
    • bitumens — reaching target markets