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Oil and gas production

One of the investment directions of Nefte Petroleum is the development of oil and gas projects.

Current main asset of the group is the project “Yargeo”, a joint venture with PAO Novatek, one of the largest Russian gas companies. Company has a 49% stake in LLC „Yargeo“, which has a license for the Yarudeyskoye oil field in the Yamalo-Nenets Autonomous Region in Russia. The oil field has substantial reserves of oil and natural gas. Production on the oil field began in December 2015. Yargeo is one of the 50 fastest growing companies in Russia over a period of three years. Project is being permanently valuated and assessed by major market players such as Wood Mackenzie and big four companies.

Main features of the project:

  • Reserves/resources:
    • Oil (A+B+C1+C2): 45 million tons
    • Gas (A+B+C1+C2): 34 billion m3
  • The license for exploration and production of hydrocarbons is valid until 2029.
  • Project provides up to $600 million a year in free cash flow.
  • Future capital investments are fully financed by cash flows from the company’s operations.
  • The project has fairly low operating costs: ~ $ 1.5/bbl.
  • Individual well capacity up to 5.2 million barrels. per day (700 t/day)
  • The potential capacity of the well is up to 8.8 million barrels. per day (1,200 t/day)