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Rosneft Oil Company

May 10, 2007

Rosneft subsidiary Neft-Aktiv wins auction for Lot 11 of YUKOS assets

On May 10, 2007, LLC Neft-Aktiv, a 100% held indirect subsidiary of Rosneft, was declared the winner of an auction for Lot 11 of the YUKOS assets being sold in connection with the company?s bankruptcy proceedings. After an opening price of RUR 154,090,729,276, Neft-Aktiv offered the winning bid of RUR 165,530,729,276.

Lot 11 consists of stakes in 28 enterprises, the most material of which include:

  • 100% of Samaraneftegaz
  • 100% of Kuibyshev Refinery
  • 100% of Novokuibyshev Refinery
  • 100% of Syzran Refinery
  • 100% stake in Novokuibyshev Oils and Additives Plant
  • Various stakes in a group of gas refining and oil product marketing companies that have refining capabilities, networks of service stations and tank farms located throughout Russia's Central Federal District. These include the Neftegorsk Gas Processing Plant (98.1%), Otradnoye Gas Processing Plant (98.1%), Samaranefteprodukt (100%) and the Samara Terminal (100%).

Samaraneftegaz

OJSC Samaraneftegaz was established in May 1994. The company is primarily involved in oil and gas production, as well as field infrastructure development in the Samara Region. According to a reserve audit performed by Miller and Lents, as of January 1, 2006 proved reserves at Samaraneftegaz under SPE classification amounted to 947.1 million barrels of oil equivalent, proved and probable reserves were 1.5461 billion barrels of oil equivalent. Category ABC1 remaining recoverable reserves stood at 238.2 million tonnes as of January 1, 2006. In 2006, Samaraneftegaz produced 9.3 million tonnes of crude oil and 287.4 million cubic meters of natural and associated gas. As of December 31, 2006, Samaraneftegaz owns exploration and production licenses for 112 fields, which include 101 production licenses, eight geological exploration licenses and 16 geological exploration licenses with subsequent rights to oil and gas production. The company's largest fields are the West Kommunarnoye, Belozersko-Chubovskoye, Ozerkinskoye and South Neprinkovskoye.

Kuibyshev Refinery

The Kuibyshev Refinery was commissioned in 1945 and has an annual primary refining capacity of approximately 7 million tonnes. The basis of production at the Kuibyshev Refinery consists of units for primary refining, catalytic reforming, hydrotreatment of fuels, catalytic cracking and viscosity breaking. The Kuibyshev Refinery specializes in producing high-quality gasoline and fuel. Its refining depth is 63.9%. In 2006, the Kuibyshev Refinery processed 6.27 million tonnes of crude oil, with 89.6% of capacity being used. A considerable part of the crude oil comes from the Nefteyugansk and Samara regions. In 2006, the refinery produced 1.1 million tonnes of gasoline for automobiles, 2.3 million tonnes of diesel fuel and 2.3 million tonnes of fuel oil.

Novokuibyshev Refinery

The Novokuibyshev Refinery was commissioned in 1951 and has an annual primary refining capacity of 9.56 million tonnes. The basis of production at the Novokuibyshev Refinery consists of units for primary refining, catalytic reforming, hydrotreatment of kerosene and diesel fuel, catalytic cracking, production of various grades of gasoline, a bitumen unit and gas fractioning capabilities. In 2006, the refinery processed 7.15 million tonnes of crude oil, producing 1 million tonnes of gasoline for automobiles, 300,000 tonnes of jet fuel, 2.2 million tonnes of diesel fuel and 2 million tonnes of fuel oil. Light products make up 56  57% of the refinery's output.

Novokuibyshev Oils and Additives Plant

OJSC Novokuibyshev Oils and Additives Plant was established in 1998 on the basis of the Novokuibyshev Refinery's oils production unit. The plant produces 63 different types of industrial, marine, hardening and special motor oils, including 28 grades that meet Russian standards and 19 grades of universal motor oils that meet international API standards. In 2006, the plant produced a total of 215,000 tonnes of lubricants. The Novokuibyshev Refinery holds a 99.99% stake in the Novokuibyshev Oils and Additives Plant.

Syzran Refinery

The Syzran Refinery was commissioned in 1942 and has an annual primary refining capacity of 10.8 million tonnes. The basis of production at the Syzran Refinery consists of units for primary refining, catalytic reforming, hydrotreatment of fuels, catalytic and thermal cracking, a bitumen unit and gas fractioning capabilities. In 2006, the Syzran Refinery refined 6.3 million tonnes of crude oil, with 58.7% of its capacity being used. A considerable part of the crude oil comes from the Nefteyugansk and Samara regions. In 2006, the refinery produced 1.1 million tonnes of gasoline for automobiles, 200,000 tonnes of jet fuel, 1.9 million tonnes of diesel fuel and 1.8 million tonnes of fuel oil.

The acquisition of the above enterprises is a significant step in Rosneft's development which will accelerate improvements in the Company's operational and financial performance via improved vertical integration, resulting earnings growth particularly from the attractive downstream market in Russia, and benefits of scale.

Rosneft intends to publish more detailed information on the acquired assets including production, cost cutting and investment plans in July 2007 during its first annual performance review presentation with investors.

 

 

 

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