Lukoil has secured four oil deposits with total recoverable reserves of 80 million tons on a PSA basis, Surgutneftegaz has one field with recoverable reserves of 100 million tons, Purneftegaz has two with recoverable reserves of 230 million tons. Easier taxes could rescue sinking oil producers such as Vanyoganneft, which has been severely damaged by the August 17 financial tornado and by low oil prices. Vanyoganneft is to develop one oil field under PSAs with reserves of 225.5 million tons. But PSAs will not save Russian oil companies from seeking ever greater foreign help to develop their downstream activities. Information sources are deemed reliable by RMG Securities, however RMG Securities abstains from any liabilities determined from the information herewith.
Analysis is based on dated market information and is subject to change.