Our success in 2013
Annual report JSOC Bashneft 2013
10
Our history
Annual report JSOC Bashneft 2013
11
ABOUT
THE COMPANY
OPERATING RESULTS
CORPORATE GOVERNANCE
APPENDICES
INFORMATION FOR
SHAREHOLDERS AND INVESTORS
Our history
1932
1935
1937
1951
2009
1995
2010
2013
2011
2012
In 1932, the history of oil exploration and production in the Republic of Bashkortostan started
with the discovery of the Ishimbay oil field.
Key milestones in the development of the Company’s subsurface resources included the discov-
ery of the Tuymazy oil field in 1937 where high-yield reservoirs of Devonian crude oil, the first
ever in Russia, were discovered in 1944. This was followed by the discoveries of the Shkapovskoe,
Chekmagushevskoe and Mancharovskoe oil fields between 1950–1954. The Arlanskoe field, a gi-
gantic oil reserve, became the region’s largest oil field.
In March 2009, Joint-Stock Financial Corporation Sistema became the main owner of six of Bash-
kortostan’s fuel and energy enterprises.
In 2011, Bashneft acquired a licence for the development of a subsurface area of federal signifi-
cance including the Trebs and Titov oil fields in the Nenets Autonomous District, and started the
development in the Timan-Pechora oil province. In December 2011, we signed an agreement with
OJSC Lukoil to run the project jointly.
In 1935, in order to facilitate commercial oil production in the Ishimbay field, the Bashneft Trust
was established. In 1936, the first ever trunk pipeline in the Volga – Urals region was commis-
sioned. In addition, the Ufa Oil Refinery (“UNPZ”) was commissioned in 1938.
As the volume of oil production grew, Bashneft made great strides to develop its refining capacity.
In 1951, the Novo-Ufimsky Oil Refinery (“Novoil”) was commissioned, and in 1957, the construc-
tion of the third largest facility amongst the Ufa refineries cluster – the Ufaneftehkim fuel and
petrochemistry plant - was completed.
On 13 January 1995, Joint-Stock Oil Company (JSOC) Bashneft was established.
In 2010, JSOC Bashneft completed the acquisition of controlling stakes in OJSC Ufaneftekhim,
OJSC Novoil, OJSC UNPZ, OJSC Ufaorgsintez and OJSC Bashkirnefteprodukt from Joint-Stock
Financial Corporation Sistema and became the parent company of a new oil holding.
In 2013 Bashneft-Polyus, a joint venture between Bashneft and Lukoil, began production at the
Trebs and Titov oil fields. This project in the Nenets Autonomous District is considered among
Russia’s largest undeveloped onshore oil fields.
The formation of a Russian vertically integrated oil company based on JSOC Bashneft was com-
pleted. JSOC Bashneft completed the first stage of its reorganization through the consolidation
of 5 subsidiaries (OJSC UNPZ, OJSC Novoil, OJSC Ufaneftekhim, OJSC Bashkirnefteprodukt and
OJSC Orenburgnefteprodukt) within the Company. This was the first phase of a complex strategy
to simplify corporate structure.
In 2012-2013, the Group divested non-core assets including transportation companies, oilfield
service companies and petrochemical enterprises.
During 2012–2013, the Company began international oil exploration and production projects
in Iraq and Myanmar.
THE ART OF CREATING
A SUCCESSFUL COMPANY
