Slavneft ups IFRS net profit 58% to 2.6 bln rubles in H1
MOSCOW. Aug 21 (Interfax) - Slavneft, a joint venture of TNK-BP and Gazprom Neft , boosted its net profit attributable to shareholders to International Financial Reporting Standards (IFRS) by 58% year-on-year to 2.581 billion rubles in the first half of 2012, the company reported in its financial statement.
Revenue climbed 19.9% to 93.345 billion rubles, and profit before tax soared 170% to 9 billion rubles.
Gazprom Neft and TNK-BP, which own Slavneft on an equal footing, will transition to a new scheme for managing the joint venture on January 1, 2013. Slavneft will act as the corporate center, although its asset structure is not changing.
In the long term, operator activities at the Messoyakh project and control over YANOS will be transferred to Gazprom Neft, and operatorship at the Kuyumbinskoye project and control over Megionneftegaz will go to TNK-BP.
