Net profit of Udmurtneft rose by 16.6% to 23.9 bln roubles in 2015

The net profit of Udmurtneft – a JV of Rosneft and Sinopec – in 2015 under RAS rose by 16.6% against 2014 and made up 23.896 bln roubles.

The revenue fell by 6.8% to 105.685 bln roubles, prime cost of sales rose from 49.037 bln roubles to 53.312 bln roubles.

Pre-tax profit rose to 30.243 bln roubles having increased by 18%. Sales profit grew to 28.63 bln roubles from 21.231 bln roubles.

Udmurtneft develop deposits on the territory of 14 districts of the republic, has 58 licenses for oil and dispersed gas extraction at 26 deposits, 5 licenses for geological stud, exploration and extraction of hydrocarbons, a license r geological study aiming for the search and assessment of hydrocarbons raw materials. The annual extraction of Udmurtneft is about 6.4 mln tons of oil.