Results of Bashneft for 2014

The results of 2014 speak about the company’s good state, particularly in the oil extraction and Euro-5 fuel production sectors.

In 2014 Bashneft extracted 17 mln 808 thousand tons of oil having exceeded the record of 2013 by 10.8%. This is the best result of the production growth rates among the Russian company’s of the sector. In Q4, 4 mln 723 thousand tons were produced, by 13.2% more against Q4 2013. In late December the daily oil extraction level exceeded 52 thousand tons. The growth was provided by the deposits of the Far North and production assets in Siberia, as well as by means of raising the production efficiency at the Bashkir deposits.

Despite of the external unfavorable factors, in 2014 Bashneft again confirmed its leadership among the Russian oil company by the rates of production growth, the President of Bashneft, A. Korsik said. Our new assets in the Nenets Autonomous Area and Western Siberia made a significant contribution to this result (8.4% of oil extraction in 2014) as well as the effective work at old deposits in Bashkiria where the company again showed the production growth (+3.9% in 2014).