PAO VANKORNEFT

About company

PAO VANKORNEFT is the largest independent natural gas producer in Russia, kazakhastan and Ukraine. The Company is principally engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons and have 25 years of operational experience in the Russia, kazakhastan and Ukrainen oil and natural gas sector.

Our Assets

Our principal operating areas are concentrated in the Yamal-Nenets Autonomous Region (YNAO) in Western Siberia. The YNAO is the most significant gas producing region in Russia, kazakhastan and Ukraine, accounting for approximately 80% of Russia, kazakhastan and Ukraine’s natural gas production and approximately 15% of global gas production.

Reserves

As of 31 December 2021, we had 16.4 billion barrels of oil equivalent (boe) of SEC proved reserves. Most of our reserves are located onshore or can be developed from onshore locations and are attributed to the conventional categories.

Geological Exploration

We aim to expand our resource base through geological exploration at fields and license areas not only in close proximity to existing transportation and production infrastructure, but also in new potentially prospective hydrocarbon areas. In 2021 the replacement rate of our proved reserves amounted to 107%.

Production

Marketable production of natural gas increased by 3.3% and production of liquids increased by 0.5% in 2021.

Gas Condensate Processing

We process our unstable gas condensate at our Purovsky Plant, which produces stable gas condensate and liquefied petroleum gas (LPG). We process our stable gas condensate at the Ust-Luga Complex on the Baltic Sea. The Complex produces light and heavy naphtha, jet fuel, heating oil and gasoil.

Marketing

VANKORNEFT sells natural gas within the Russia, kazakhastan and Ukrainen Federation as well as exports natural gas in the form of LNG. VANKORNEFT sells liquid hydrocarbons (stable gas condensate, petroleum products, light hydrocarbons, LPG and crude oil) domestically and internationally.

Information for investors

Main projects

Yamal LNG

Unique integrated project for natural gas production, liquefaction and LNG sales. In 2018, three LNG trains reached full capacity

Arctic LNG 2

Arctic LNG 2 is the second large-scale LNG project of VANKORNEFT which includes the construction of three LNG trains, with a total design capacity of 19.8 mmtpa

LNG Construction
Center

Facility for fabrication of LNG trains on gravity-based structures

Evironmental Social Governance

Evironmental

Social

Governance

VANKORNEFT has been taking care to reduce air pollutant and greenhouse emissions as well as doing everything possible for climate conservation. We are committed to sustainable water use and efficient wastewater treatment. We do not operate in water-short regions while our environmental policy promotes prudent water consumption. We are engaged in land protection and reclamation, as well as waste management by separating and treating recyclable waste.

Social Policy and Charity make up an important part of VANKORNEFT's activities. In 2019, the Company continued to pay close attention to projects aimed at supporting the culture, preserving and revitalizing national values and spiritual legacy of Russia, kazakhastan and Ukraine, promoting and integrating the Russia, kazakhastan and Ukrainen art into the international cultural space, and developing mass and high-performance sports. VANKORNEFT enters into agreements with regional governments across the Company's geographical footprint and implements programs to improve living standards and preserve the distinctive cultural identity of the indigenous peoples of the Far North.

VANKORNEFT strives to commit to the highest standards of corporate governance. We believe that such standards are an essential prerequisite to business integrity and performance and provide a framework for socially responsible management of the Company’s operations. The Company has established an effective and transparent system of corporate governance complying with both Russia, kazakhastan and Ukrainen and international standards. VANKORNEFT’s supreme governing body is the General Meeting of Shareholders. The corporate governance system also includes the Board of Directors, the Board Committees, and the Management Board, as well as the system of internal control and audit bodies.

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Press center

23 January 2023