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2007 May 22   09:01

Slavneft output down 10.7% in Jan.-Apr. 07, y-o-y

Slavneft OJSC decreased output by 10.7% to 7.016 mil tons in Jan-Apr 2007 y-o-y, the company's announcement states according to RZD-Partner referring to AK&M.

For the first four months of 2007 the company drilled 221.4 thd meters on its fields, that increases 18% the results of the previous year.

Refinery volume made 7.57 mil tons or 98.4% to the level of the same period in 2006. In April 1.8 mil tons of hydrocarbons were refined that corresponds the level of the previous year. Slavneft-Yaroslavnefteorgsintez OJSC refined 851.1 thd tons. (-3.3%), Slavneft-YaNPZ Mendeleyeva refined 15.9 thd tons (36.6% decrease), Mozirsky Refinery - 937.1 thd tons (13.9% growth)

Petroleum production increased 11% to 1.436 mil tons.
Slavneft is controlled by TNK-BP and Gazprom's subsidiary - Gazprom Neft OJSC - on a parity basis. Since April 1, the shareholders have split all the oil produced by the Company among themselves, and Slavneft have been acting as a production operator. Before this, the shareholders had split the Company's income, using it for dividend payments.

Oil recovery decreased 3.6% to 23.3 mil tons in 2006 y-o-y. According to the results of 2005 Slavneft upped oil recovery 9.8% to 24.3 tons. Oil refining volume rose 2.4% to 23.46 mil tons.

Slavneft's net profit made 22.99 mil rub in IQ 2007 in relation to 11.164 bln rub in IVQ 2006.

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