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09.06.2011 16:42

The President of Azerbaijan visited our stand!

Stanislav Makivoz, Department Head, Current Projects and Long-term Planning, RussNeft:

- Today RusNeft is among the ten largest oil companies in the country. We are engaged in the exploration, drilling, production and processing of fuel and energy resources. The organizational structure of RussNeft includes 24 production enterprises,2 oil refineries and a sales network of petrol filling stations. The enterprises geographical scope of activity covers 12 regions in Russia and the CIS. Our participation in Caspian Oil & Gas 2011 is due to our desire to expand our presence in the Caspian region, and enter the local market with specific offers of co-operation. This event was a great opportunity for us to advertise our business and, at the same time, to demonstrate the capacity of the company. We have previously exhibited here in 2006 and 2007 when we launched our business in Azerbaijan. The time has now come to remind Azerbaijan of our companys success because of the local assets which are up for acquisition, although a final decision has still not been taken on this issue. At the present time, the net effective pay (NET) of oil at RussNeft OJSC exceeds 600 million tons, and the total volume of oil produced by the company branches equals 13 million tons. In accordance with the approved, long-term strategy of development, RussNeft will be increasing its production output of hydrocarbon resources by more than a third in the forthcoming seven years. The Group is the largest supplier of oil and oil products to neighboring countries and those further afield, as well as to the domestic market of the Russian Federation. Of course, Caspian Oil & Gas 2011 offers us an excellent opportunity in terms of the expansion of the geographical scope of our business.

Prior to the exhibition we have had interesting meetings and negotiations with our international colleagues. There are many specialists in various fields at this exhibition and we have established friendly relations with our Azerbaijani hosts. The lasting memory we will take with us is of the personal visit made by HE Ilham Aliyev, President of Azerbaijan, and his wife to our stand both esteemed guests showed interest in our projects. I am sure that such an event will positively influence the implementation of our plans.

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