Annual report JSOC Bashneft 2013
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Annual report JSOC Bashneft 2013
15
ABOUT
THE COMPANY
OPERATING RESULTS
CORPORATE GOVERNANCE
APPENDICES
INFORMATION FOR
SHAREHOLDERS AND INVESTORS
Business model and geography
Business model and geography
Our business model in action
Crude oil production
16.1 mln tonnes
(117 mln bbls)
Total liquid hydrocar-
bons 26.7 mln tonnes
(194.4 mln bbls)
Total oil products
19.8 mln tonnes
Wholesale
9.0 mln tonnes
Crude oil export
4.7 mln tonnes
(33.9 mln bbls)
Domestic crude sales
0.5 mln tonnes
(3.6 mln bbls)
Countries not part
of the Customs Union
4.1 mln tonnes
(30.0 mln bbls)
Countries of the
Customs Union
0.5 mln tonnes
(3.8 mln bbls)
Retail sales
1.4 mln tonnes
Countries not part
of the Customs Union
8.7 mln tonnes
Countries of the
Customs Union
0.7 mln tonnes
Purchased oil
products
0.1 mln tonnes
Oil refining
21.4 mln tonnes
(156 mln bbls)
Crude oil sales
5.1 mln tonnes
(37.6 mln bbls)
External crude oil
and gas condensate
10.5 mln tonnes
(76.7 mln bbls)
Export sales
of oil products and
petrochemicals
9.4 mln tonnes
Domestic sales
of oil products
and petrochemicals
10.4 mln tonnes
How we create value
JSOC Bashneft is structured to control the processes across the entire value chain – from the acquisition of li-
cences through to domestic and export sales of petroleum products.
Bashneft’s business model
Expanding our resource base is a key strategic priority for the Company, and we fulfil this objective through both organic and
inorganic growth. We seek to acquire new licences, participate in auctions, and further explore existing deposits using the most
advanced technologies. In addition, the Company has been gaining experience in overseas exploration and appraisal (E&A)
through projects in Iraq and Myanmar.
Our exploration and appraisal activity enabled us to achieve a reserve replacement ratio of 133.7% in 2013.
For more information, please refer to the “Operating results – Licensing, Exploration and Reserves” section
We produce oil at our existing fields and also are beginning development of new prospective fields. Growth in oil production
in 2013 was achieved due to an extensive well workover programme at our producing fields and the launch of pilot production
at the Trebs and Titov fields.
We use state-of-the-art technologies in order to further enhance our performance and reduce the impact our operations have
on the environment.
For more information, please refer to the “Operating results – Production” section
We process the bulk of crude oil we produce at company-owned and operated refineries in the Republic of Bashkortostan.
To ensure the optimal usage of our refining capacity, we purchase additional volumes of crude oil and gas condensate from
external suppliers. High levels of integration at our production sites as well as extensive modernisation efforts at our refinery
complex enabled us to achieve an industry-leading Nelson Complexity Index in Russia. Our technologically advanced refining
capacities allow us to produce a wide range of high quality petroleum products.
For more information, please refer to the “Operating results – Refining” section
We pursue wholesale sales for petrochemicals and some of its crude both the domestic market and for export. Our retail sales
are carried out through company owned and operated network and partner petrol stations. We are carrying out a rebranding
programme for our retail network while also growing our market share in premium fuel products.
For more information, please refer to the “Operating results – Sales” section
Licensing
Exploration
and Appraisal
Production
Refining
Sales
