Zarubezhneft boosts EBITDA 50% in 2013 to 33.2 bln rubles
MOSCOW. July 3 (Interfax) - OJSC Zarubezhneft boosted earnings before taxes, depreciation, and amortization (EBITDA) to Russian Accounting Standards (RAS) 50% year-on-year in 2013 to 33.2 billion rubles, the company said in its annual report.
Consolidated revenue advanced 5.8% to 96.5 billion rubles.
Zarubezhneft's investment program grew 63% in 2013 to 17.1 billion rubles.
Gross oil production reached 10.349 million tonnes, up 3.4%, while gross oil production including the company's stake in projects increased 1.7% to 4.64 million tonnes.
Oil production grew thanks to geological, and organizational and technical measures as part of investment project to bring new oil wells into production. Production also grew as a result of major well repairs and streamlining the work of well equipment, the company said.
Oil refining volume was the same as last year - 1.025 million tonnes.
The company's initial reserves of hydrocarbons in Russia and abroad including A+B+C1+C2 were 561.5 million tonnes of oil equivalent as of June 1, 2014, while growth in reserves for the year totaled 10.185 million tones.
Current recoverable reserves including A+B+C1+C2 are estimated at 124.273 million tonnes of oil equivalent as of early 2014. The size of recoverable reserves including A+B+C1 was 94.419 million tonnes.
The company boosted 3D seismic surveying 140% in the reporting period to 1,271 square kilometers, while 2D surveying fell 66.7% to 400 linear kilometers. Exploration drilling advanced 7% to 30,300 meters.
