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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Public Joint Stock Company Rosneft Oil Company    ROSN

PUBLIC JOINT STOCK COMPANY ROSNEFT OIL COMPANY

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Public Joint Stock Rosneft Oil : Orenburgneft Improves Pipeline Safety by 44%

10/16/2020 | 07:45am EST

Specialists of Orenburgneft, a subsidiary of Rosneft Oil Company, have reduced the number of field pipeline failures by 44% in six years. At that, the remedial action costs for such failures have been decreased by over 120 million roubles. To achieve such high performance, a whole range of measures were implemented, including diagnostics, replacement and repair of pipelines, as well as anticorrosion inhibition.

Accident-free operation of production facilities is one of the priorities of the Rosneft-2022 strategy and a key objective for the Company in all areas of operation. As one of the leaders of the global energy industry, Rosneft Oil Company supports advanced initiatives of the global community and introduces technologies related to the protection and preservation of the environment.

Unmanned aerial vehicles (UAVs) are used to prevent pipeline decompression and monitor the situation at Orenburgneft's fields. Approximately 330,000 kilometres of pipelines have been examined through UAVs in the recent three years. The monthly volume of pipeline patrolling with the use of UAVs amounts to 12,000-20,000 kilometres.

The total length of the pipelines under operation by Orenburgneft exceeds 9,000 kilometres. Annual industrial safety diagnostics and audits cover up to 30% of the operating stock. The total volume of pipeline reconstruction, capital and routine repairs reaches 100 kilometres per year. As part of Rosneft's large-scale Pipeline Safety Enhancing programme for 2020-2025, Orenburgneft provides for the replacement of more than 500 kilometres of pipelines, which is about 5.5% of the operating stock.

Note for Editors:

Orenburgneft, a subsidiary of Rosneft Oil Company, is engaged in exploration campaigns at 33 license areas located in Orenburg, Samara and Saratov regions. The enterprise's operations include 181 license areas and 174 fields. Since the start of commercial operation in 1937, the accumulated production at Orenburgneft's fields has exceeded 630 million tonnes of oil.

Rosneft
Information Division
October 14, 2020

Disclaimer

OJSC Oil Company Rosneft published this content on 14 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 October 2020 11:44:01 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 75 948 M - -
Net income 2020 -87,1 M - -
Net Debt 2020 52 784 M - -
P/E ratio 2020 -158x
Yield 2020 0,08%
Capitalization 58 633 M 58 633 M -
EV / Sales 2020 1,47x
EV / Sales 2021 1,22x
Nbr of Employees 335 000
Free-Float 11,2%
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 6,03 $
Last Close Price 6,28 $
Spread / Highest target 19,5%
Spread / Average Target -3,87%
Spread / Lowest Target -28,3%
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NameTitle
Igor Ivanovich Sechin Chairman-Management Board & Deputy Chairman
Gerhard Schroeder Chairman
Petr Ivanovich Lazarev Finance Director
Artur Matthias Warnig Deputy Chairman
Robert W. Dudley Non-Executive Director
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