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4-Traders Homepage  >  Equities  >  MOSCOW INTERBANK CURRENCY EXCHANGE  >  Gazprom PAO    GAZP   RU0007661625

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Gazprom Neft' : Neft brings Russias Otdelnoye field into production

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09/26/2017 | 04:14pm CEST

Gazprom Nefts subsidiary Gazpromneft-Noyabrskneftegaz has brought its Otdelnoye field in Russia into commercial production, with two wells in operation running at 170t per day.

The field is located in the northern part of the Surgut District of the Khanty-Mansiysk Autonomous Okrug-Yugra, 70km from Novosibirsk.

Gazprom Neft first deputy CEO Vadim Yakovlev said: Gazpromneft-Noyabrskneftegaz continues to consistently expand its resource base in preparation for full-scale development.

This summer, in particular, we began production at a remote group of fields in the Yamal-Nenets Autonomous Okrug.

An integrated approach to the development of the region, together with good results in exploratory drilling, mean we can say, with confidence, that we will be able to continue maintaining stable production levels at Gazpromneft-Noyabrskneftegaz.

Due to an extensive and integrated analysis of all available geological information, analysis of seismic profiling, as well as the construction of an up-to-date geological model, the company was able to predict the oil-bearing capacity of the licence block.

"Gazpromneft-Noyabrskneftegaz continues to consistently expand its resource base in preparation for full-scale development."

Gazprom Neft noted that the viability of the block was confirmed by a natural inflow of dry crude oil of up to 20m per day.

The company plans to drill more than 20 wells at the Otdelnoye field between this year and next year, including 13 horizontal wells.

Subsoil usage rights to this block were secured by Gazpromneft-Noyabrskneftegaz following an auction by the Department for Subsoil Use of the Urals Federal District in 2014.

Initial recoverable reserves and reserves in place are estimated at 4.8mt and 21mt of oil, respectively.

(c) 2017 Saudi Research and Publishing Co. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2017 105 B
EBIT 2017 15 330 M
Net income 2017 11 420 M
Debt 2017 37 283 M
Yield 2017 5,68%
P/E ratio 2017 4,06
P/E ratio 2018 3,55
EV / Sales 2017 0,84x
EV / Sales 2018 0,81x
Capitalization 50 671 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Average target price 2,58 $
Spread / Average Target 21%
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NameTitle
Alexei Borisovich Miller Deputy Chairman & Chairman-Management Board
Viktor Alexeevich Zubkov Chairman
Timur Askarovich Kulibayev Independent Director
Vladimir Alexandrovich Mau Director
Andrey Igorevich Akimov Director
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