The 2021 business plan of the сompany suggests capital investments of RUB 20 billion, which will make it possible to construct about 110 wells, most of which will be at Variogan block and Verkhne-Shapshinskoye oil field. RussNeft expects to start infrastructure construction at Vostochno-Kamenniy subsoil area, the reserves thereof are estimated at 60 million tons.
The investment program was reduced by 30% this year, with the bulk of the funds spent on the drilling program. In 2020 83 new oil wells were put into operation at the сompany's fields.
According to preliminary estimates, EBITDA by the end of 2020 will be about RUB 26 billion, which will exceed the expectations of the company at the beginning of this year after the rapid collapse of oil prices.
RussNeft ranks among the top-10 largest oil companies by crude oil production in Russia. The сompany possesses a well-balanced portfolio of assets located in the key Russian oil and gas provinces (West Siberia, Volga-Urals and Central Siberia) as well as in Azerbaijan. The headcount of RussNeft is around 10,000 employees.
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