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Surgutneftegas

March 4, 2004

OJSC "Surgutneftegas" sums up the results of its cost control program

Over the past few years, OJSC “Surgutneftegas” has been implementing its comprehensive cost control program, aimed at savings through higher operating efficiency of fixed assets and lower expenses on materials and through restructuring its organizational framework. As a result, in 2003, total savings amounted to RUR 3.6 bn, which allowed to save over RUR 30.5 per each ton of oil extracted.

The most substantial savings were enjoyed by the Company’s oil and gas production divisions (69%), drilling departments (14%) and auxiliary structural units (13%).

On the upstream side, the most dramatic benefits were gained due to lower expenses on materials and electricity with their share in the total savings of 22% and 21% correspondingly. Primarily through sidetracking, the Company also saved on work-over.

Due to optimization of shift team transportation during 2003 we saved RUR 8.2 mn.

The Company was implementing eight different energy conservation projects. The most effective of all was the change of the drives of the gas compressor stations to gas turbine ones. As a result, the Jury of the Regional Contest 2003 awarded us the prize for the most substantial energy savings in Khanty-Mansiysky Okrug.

Implementation of environmental protection technologies saved the Company around RUR 300 mn.

Press Service of OJSC “Surgutneftegas”

 

 

 

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