18 Jun 2018 12:55

Neftisa boosts EBITDA 4% to 36.3 bln rubles in 2017

MOSCOW. June 18 (Interfax) - Russian oil company Neftisa, part of Mikhail Gutseriev's Safar Group, increased EBITDA 4% to 36.3 billion rubles in 2017, the company said in a statement.

Revenue increased 19% to 111.2 billion rubles.

Recoverable reserves (ABC1+C2) rose 39% to 360 million tonnes last year. Overall growth in reserves at all subsidiaries amounted to 107.4 million tonnes. Oil production totaled 6.8 million tonnes.

Neftisa completed a deal last year to acquire 75% in Neftegazpromtech, which is developing the Nizhnechutinskoye field in Komi with over 86 million tonnes of recoverable oil reserves.

Neftisa has operations in seven Russian regions, including Tyumen, Novosibirsk and Samara regions, Khanty-Mansii autonomous district, and Komi and Udmurtia. The company is engaged in oil exploration and production at 109 license territories and has 2,500 producing wells.