WHO WE ARE
Company with tradition
The history of Orenburgneft PJSC began in February 1963.
Our Company is the Russian industry leader in terms of new highly marginal projects startups. The overall 2019 liquids production from the new projects, started since 2016 made 18.9 mln tons (384 K bpd), which is 27% higher than that in 2018. The projects share increased up to 8% in the total 2019 liquids production. We also pay much attention to brownfield development – a historic daily production record exceeding 198 Ktpd was achieved in 2019 at RN-Yugasnneftegaz, the largest Company asset. The production decline trend of Samotlor field (average 5% annual reduction till 2018) was changed due to investment incentives. In 2018-2019 the Company production dropped only by 1% and reached 18.4 mln tons by the year end. Production trend is also changed in RN-Nyaganneftegaz and resulted in 17% increase and about 7 mln tons of production.
OUR STRATEGY
What is our business?
- Onshore exploration and appraisal
- Production and Development
- Reserves and resources
- Offshore equipment
- Oil refining
- Gas Processing
- Production of lubricants
- Sales of Petrochemical products and LPG
In 2019 the Company worked in line with its strategic targets and kept leadership among the global oil majors in terms of the proved hydrocarbons reserves.
Based on DeGolyer&MacNaughton assessment, as of December 31, 2019 1P HC reserves made 47 289 mln boe (6 400 mln toe), 2Р – 84 926 mln boe (11 504 mln toe), 3Р – 125 296 mln boe (16 976 mln toe) by PRMS classification. In 2019 the overall 3P reserves estimate increased by more than 4 bln boe (550 mln toe).
In 2019 under the OPEC+ agreement the Company managed to maintain the HC production at a record level of 285.3 mln toe.