The open Society “Bashneft” is the unique large Russian oil company which is not incorporating oil refining factories.
The primary activity of the open Society “ANK” Bashneft is concentrated on the Republic Bashkortostan territory. Deposits in this region are developed since 30th years of the last century. The degree of the development of initial total resources of oil is estimated in 80 %.
The exhausted resource base doesn’t allow the company to stabilize oil recovery. For increase in stocks in 1997 of “Bashneft” has created enterprise “Bashsibneft” which is connected in the development of oil and gas resources with the Western Siberia. However, for this time this project hasn’t given expected result. Extraction on the West Siberian deposits got by the company considerably lags behind planned targets.
Company creation
The production association “Bashneft” has been created in 1932. In January, 1995 the production association has been renamed to open joint-stock company “Bashneft”. As a result of privatization about 63 % of actions remained in the Republic Bashkortostan property, 28,3 % have been distributed on the closed subscription among the labor collective, 5 % have got the administration.
The development of the West Siberian deposits
Aleksandr Korsik-CEO of Bashneft |
Aleksandr Goncharuk-Chairman of the Board |
In connection with high degree of clarity of the Bashkir deposits the management of the “Bashneft” has made the decision on expansion of a raw-material base at the expense of acquisition of perspective sites in Western Siberia. In the beginning of 1997 the company has founded “the Western-Siberian representation” which has settled down in Nizhnevartovsk area. The representation of the “Bashneft” was carried out gathering of the information on the enterprises of the oil-extracting branch working in Siberia, and was connected in an establishment of contacts to local administration. In the end of 1997 on a basis of “the Western-Siberian representation” Joint-Stock Company “Bashsibneft” which founders became ANK”Bashneft” and “the Tyumen joint-stock social bank” have been created.
In May, 1998 of “Bashneft” has won licenses for the right of development of 6 perspective sites in Khanty-Mansiysk the autonomous region largest of which are Kirsko-Kottynsky and Hazaria.
Belkamneft
In June, 1997 the agreement on joint-stock company “Belkamneft” creation which founders became ANK “Bashneft” (50 % of an authorized capital stock), the State Committee of the Udmurt Republic under the property (43,5 %) and joint-stock company “the Udmurt republican foreign trade firm” Baikal “(6,5 %) has been signed.”Bashneft” has brought property, the equipment and money resources in an authorized capital stock of”Belkamneft”, the State Committee of Udmurtiya has given to the new enterprise a package of licenses for the right of oil recovery to republic territories, and firm” Baikal “has paid the received share of actions only money resources.
Bashneft oil storage
Joint-Stock Company “Bashneft-TNK”
On February, 9th, 1998 “Bashneft”, “the Tyumen oil company” Crown Investment Ltd. (Great Britain) have signed the contract on Joint-Stock Company “Bashneft-TNK” creation. The new enterprise is formed for coordination of joint deliveries of oil on Bashkir NPZ and development of oil and gas deposits of the Tyumen region. The individual share of the parties: “Bashneft” – 35 %, the multinational corporation – 35 %, Crown Investment Ltd. – 30 %.
In 2001 “Bashneft” has sold the share in “Bashneft-TNK”, in 2003 of the multinational corporation also left structure of shareholders of this enterprise.
Oil recovery in the Orenburg region
In March, 2008 of “Bashneft” has won auction on the right of investigation and extraction of hydrocarbonic raw materials to the Kitajamsko-Blagodarovsky site in the Orenburg region. The starting price of a site has been established at level 0,2 billions roubles, “Bashneft” has offered for it 1,54 billions roubles. During auction 67 steps have been made. Except “Bashnefti” Open Company “Tatneft-northern” and Open Society “Bashneftgeophisica” participated in auction.
The volume of the taken reconnoitered stocks of oil within the Kitajamsko-Blagodarovsky site makes 1,6 million tons preliminary estimated – 3,6 million tons. The taken reconnoitered stocks of gas make 2,8 billions for the cubic m preliminary estimated – 2,7 billions for the cubic m.
Company’s financial results
| 2006 | 2007 | 2008 | 2009 | 2010 | |
|---|---|---|---|---|---|
| Revenue, USD bln | 100,1 | 101,1 |  121 |
139 |
|
| Net income, USD bln | 11,5 | 13,1 |
 10,8 |
16,1 |