Sibneft. "Sibneft Nk sibneft

SIBNEFT

“A”, “B”, “P” were sitting on the pipe.
"A" fell, "B" disappeared...
Who's left on the pipe?

History of creation
The history of the emergence of the Sibneft company is full of mysteries. In 1995, on the eve of the creation of the company, it was planned to include the Omsk oil refinery and the Nefteyugansk oil and gas enterprise into the state company Rosneft. However, this did not happen. This is precisely why this state-owned company turned out to be less powerful than originally planned and, naturally, the ruling elite at the federal level was unable to further exert any real influence on the market for refining and selling petroleum products.
There was another possible scenario - the enterprises of the future Sibneft company were planned to be included in the financial and industrial group, the creation of which was carried out by the once famous “gray eminence” of Russian industry Oleg Soskovets. This group of enterprises was to include metallurgical plants of the Siberian Aluminum association and several large banks. The director of the Omsk Refinery, Ivan Litskevich, was a supporter of precisely this option. His intractability, and in this regard his unexpected death (I wrote about this above), cooled the hot heads of the authors of this project.

Deputies of the legislative body of the Omsk region, suspecting something was wrong, created a commission to verify the legality of the acquisition of shares in the Omsk Oil Refinery, and literally a few days later, on February 29, 1996, the chairman of this commission, a very famous person in Omsk, Oleg Chertov, was killed at the entrance of his house. Chertov was deputy general director of Omskshina JSC, was distinguished by his independence of views and more than once sharply opposed the destructive economic policy pursued by the regional administration. Without a doubt, this murder was contracted. The killer fired six shots at Chertov, including two control shots in the head.

What is strange, at first glance, is that the official car, which usually waited for the deceased at the entrance, for some reason that morning was quite far from the house. It is also curious that literally the day before his death, Chertov received a number of unofficial documents about the activities of the Omsk Oil Refinery, which, apparently, could shed light on the scam with the creation of the Sibneft company. Like many of the contract killings that followed in Omsk; this too has not been revealed to date.
Later, after the creation of the Sibneft company, the governor’s youngest son Alexey became one of the managers of its subsidiary Runicom. This is about fifteen percent of the voting shares of the Omsk Oil Refinery and just over sixteen percent of the shares of the Omsknefteproduct company. A little later, all these shares turned into ten percent of the shares of the Sibneft company. Not bad... Isn't it?

So, the youngest son of the Omsk governor Alexey Polezhaev in the nineties, according to various media sources, worked in the Moscow representative office of the Swiss oil trading company Runicom S.A. This company, as you know, was considered to manage the assets of Roman Abramovich, including the Sibneft company. Later, Alexey Polezhaev is found in Millhouse Capital UK Ltd., which manages the assets of former Sibneft shareholders. Her office was located on the sixth floor of the office of Roman Abramovich's favorite club, Chelsea. The company itself, Millhouse Capital UK Ltd. is a “daughter” of a Cyprus offshore company, and its reports, of course, are not transparent. However, in the list of major managers registered in the readers’ club of the Vedomosti newspaper, we met a certain Alexey Polezhaev from Millhouse Capital. And in the May 2009 issue of GQ magazine, a well-known secular columnist writes that Alexey Polezhaev is a regular on Roman Arkadyevich’s yacht “Pelorus”.

Thus, the youngest son became the guardian wallet to whom dad regularly sends “honestly” broken pieces from the state loaf.

So, the threads from these and other regional-scale tragedies stretch to Sibneft JSC. Soon, Leonid Polezhaev was included in the board of directors of this company, despite the fact that this contradicted the federal law “On Civil Service,” which prohibits civil servants from engaging in commercial activities. But... as if... it couldn’t have been any other way - after all, at the initial stage, of course, Leonid Konstantinovich needed personal oversight of the activities of his brainchild.
The governor’s new partners understood that in order to consolidate their success, it was necessary to dissolve the shares of the Omsk Oil Refinery in the shares of the Sibneft company. This was done in order to reduce the influence of representatives of the oil refinery on the decisions of the meeting of shareholders of the new structure and to prevent a revision of the decision to create a joint-stock company.

Literally a year after the creation of the company, in December 1996, a loans-for-shares auction was held in Moscow, at which a controlling stake in Sibneft was sold to “their people.” The organizers did everything to ensure that “outsiders” did not participate in this auction. As a result, the regional budget then lacked about five hundred billion non-denominated rubles. This money settled in capital bank accounts.

It was from this moment that Roman Abramovich gained great influence on the Sibneft company. At the same time, some deputies of the Legislative Assembly of the Omsk Region showed their concern about this candidacy, who noticed that the volume of oil refining had increased compared to the previous 1995, and contributions to the local budget from the Omsk Refinery decreased (paradoxically) by two and a half times. But at that time the share of the Omsk Refinery in the city budget was about 60 percent.
The conclusions of the deputies, at first glance, were quite strange: they argued that the main reasons for the reduction in tax payments from the Omsk Oil Refinery is that the Sibneft company has been constantly reducing the price of crude oil since its creation. Secondly, at the same time, the cost of exported petroleum products decreased with a serious and continuous increase in export volumes.

The main conclusion of the commission was that “a certain powerful oil group” (read Berezovsky - Abramovich - Polezhaev) transferred all financial flows, bypassing the Omsk Oil Refinery, through the newly created Sibneft company, and therefore bypassing the local budget. Having reduced the price of raw materials in such a strange way, this company allegedly lost three hundred billion non-denominated rubles in just one year.
Only the owners of the Sibneft company did not lose anything. According to information obtained from the Internet, this money appeared in Moscow banks controlled by them and in foreign accounts.

Sweet Odessa disappeared into the fog
The one who definitely lost was the local budget, which since that time has been short of huge amounts of tax revenue. It is now clear whose fault Omsk residents then lost at least half of their regional budget. And after the Sibneft company registered in the village of Lyubino, even more! This was done at that time in order to cut off the financial oxygen of the mayor of Omsk Valery Pavlovich Roshchupkin, who openly opposed the disastrous economic policy of the governor. If the legal address of the Sibneft company is not in Omsk, but in the regional center of Lyubino, then the city cannot claim tax revenues from the Sibneft company to be transferred to the city budget.
Omsk was losing huge sums. And this at a time when state employees did not receive wages for several months. In order to somehow fill the budget, Sibneft's subsidiary, Omsknefteprodukt, began to increase retail prices for gasoline, diesel fuel and fuel oil, which were sold to enterprises and residents of the Omsk region. Today these prices are still among the highest in Russia.

You can't break a butt with a whip
Many tried to resist this process, but... you can’t break the butt with a whip. Deputy Leonid Gorynin was illegally deprived of the post of rector of SibADI, he was not allowed to be included in the lists of candidates for the Legislative Assembly of the Omsk region, he was subjected to persecution, including accusations of attempting to carry out a coup in the Omsk region (what nonsense). On top of everything else, he did not escape the attempt on his life. Although... I think... if they wanted to kill, they would have killed. And so, they intimidated a careless deputy, and that’s enough for him.
Another truth seeker and defender of Omsk residents, Omsk mayor Valery Roshchupkin, was eventually forced to resign to avoid the threat of housing freeze in the winter of 2000–2001. It was then that Polezhaev decided to punish Omsk residents for their support and Roshchupkin’s more than convincing victory in the 1999 elections. The governor directly stated on TV that “Omsk residents made a mistake by electing Roshchupkin, and they will regret it!” And they felt sorry for them - they were almost frozen, houses began to be blown up due to the deliberate restriction of the supply of household gas, and, finally, they were turned into a humiliated and powerless crowd, you can choose another synonym: “cattle”.

Another person who naively believed that he could return Sibneft taxes to the local budget was the head of the Omsk tax inspectorate, Vladimir Fedorenko. The prosecutor's office of the Omsk region immediately fabricated a criminal case. Fedorenko was innocently thrown into prison in a cell with criminals and spent a year and a half there. Later, by a decision of the Supreme Court of Russia, Fedorenko was completely acquitted, but during this time, Polezhaev’s guardsmen destroyed the city tax office, and the Pope gave another lesson to everyone who did not submit to him.

There was another rebellious one - Deputy Governor Alexander Korotkov. Korotkov began to wonder where the budget money was going. He began to block many financial transactions. It got to the point that he decided to interfere in the financial affairs of the Sibneft company and other operations closed to prying eyes. The most incomprehensible thing for Polezhaev (and even offensive) was to find out why Korotkov did all this. It turns out, for the sake of replenishing the regional treasury and raising the living standards of Omsk residents. Of course, such an eccentric could not be left near his own person any longer. The system reacted in the usual way: Korotkov was fired, then a criminal case was fabricated out of nothing, he was kept in a cell with prisoners for a couple of weeks as a warning, and then brought to a pre-heart attack state. When Korotkov was in intensive care, he was sentenced in absentia to three years. True... they immediately pardoned him as a law-abiding and exemplary citizen. Truly, the special Asian sadism of the Omsk Kurbashi was fully manifested in such situations.

Ostap Ibrahimovic, when will we divide our money?
But all this is just the tip of the iceberg of the Polezhaev coordinate system. The editors of “Vest” at one time reported that they had documents indicating that “real” money from the Omsk Refinery was regularly diverted, and this process always noticeably revives on the eve of gubernatorial elections. At the end of December 1995, the Omsk Refinery received $35 million from its subsidiaries (Runikom, Assa, Arch). It is likely that this was proceeds from the sale of oil for export. Immediately, on December 27 of the same year, the plant deposited almost all of this money into the deposit account of the Metropolitan Savings Bank. The agreement with the bank was concluded for a year, and it was said that the depositor could not withdraw his deposit before the expiration of this period. However, the money was withdrawn from this account the very next day. One can only guess where these financial flows went during the gubernatorial election battles. Their trace was lost, but someone knows about it. At a minimum, the then director of the oil refinery, Konstantin Potapov, and his relative Leonid Polezhaev know.

In 1997–1998 The Omsk Refinery has invested a lot of money in various investment companies - “Capital”, “Vklad”, “Capital Investments”. In particular, when Vklad LLC was created in 1997, the Omsk Oil Refinery paid for the lion's share of the authorized capital and contributed almost 142 billion rubles in “live” non-denominated money. The plant invested 30 billion non-denominated rubles in Capital Investments, and the same amount went to Capital. What benefit the plant received from participating in these companies is a mystery; most likely, it received nothing. But it is known for certain that some time later the Omsk Oil Refinery decided to “get rid” of its shares in these organizations. The plant’s share in “Vklad” was divided among five organizations - the Sibneft company itself and four more companies - Servet, Forneft and Branko, which undertook to return 33 million already denominated rubles to the plant. Another company, OilImpex, signed an agreement for the assignment of rights for the remaining ten million.

All these companies were in partnership with the Sibneft company. The most interesting thing is that none of them ever paid the money owed to the Omsk Oil Refinery. Instead, several agreements appeared on the assignment of rights to claim debts, according to which the Sibneft company itself undertook to collect money from the debtors, and it also had to pay the plant money for the sold shares. Using the same scheme, the Sibneft company undertook to extract money from the Omsk Oil Refinery from the companies Capital and Stolichnye Investments. But it is not difficult to guess that Sibneft never paid the plant anything for these debts. Under all the mentioned agreements, Sibneft’s debt to the Omsk Refinery amounted to almost 202 million denominated rubles. Sibneft made a settlement with the plant, counting this money towards repayment of debt to the federal budget. This credit scheme raises serious doubts among specialists. The result is deplorable - the “real” money that was once deposited into investment firms of dubious purposes has gone through many different “transformations”, and the Omsk Oil Refinery has never seen it again and will never see it again. I write only about what I know and what former oil refinery employees and my corporate colleagues told me.

Economic degradation of the region
When the power structures of the federal center began to attack Mr. Abramovich, he, mindful of the fate of Berezovsky, Gusinsky and Khodorkovsky, surrendered his assets. He ceased to be the governor (chief) of Chukotka, but the shares of the Sibneft company were acquired by the shareholders of RAO Gazprom. This fact was the final financial collapse for the budget of the Omsk region. And here it is Leonid Polezhaev’s direct fault. He did everything possible to make it a reality.
After Sibneft left Omsk, not a single serious task was completed, which clearly demonstrated the helplessness of the governor and his inability to lead the development of the region. With the disappearance of such a financial “backbone” from the region, the process of degradation of the economic system began in the Omsk region.
What do we have now? The region found itself in the top ten largest debtors to the federal center, its debt amounts to almost eight billion rubles, and this debt increased by two and a half billion in 2008. Even knowing about such negative debt dynamics, the 2009 budget was planned with a deficit of five billion rubles. This is official data from the Internet, which no one disputes. I don’t have data for 2010, but I think that the situation has remained (if not worsened) at the same level.

It’s too late, Lenya, to drink Borzhom if your liver is under the knife
Attempts by the Omsk governor to return things to normal were unsuccessful. Polezhaev gave a press conference at Interfax, at which he actually went so far as to directly accuse representatives of the federal center of deliberately causing damage to the Omsk region. This process has a very specific name: “Writing against the wind.”
Journalists from Nezavisimaya Gazeta said that at the last press conference the head of the Omsk region was depressed and at times aggressive: it turned out that this was connected not so much with the re-registration itself, but with the fact that talking about it in the capital’s corridors of power in the tone which the governor had intended turned out to be impossible.
The Kremlin made it clear to Polezhaev that the issue of re-registration had been resolved and there was no point in taking any active steps. And the Governor of St. Petersburg, Valentina Matvienko, at the same time (this is clearly not a coincidence) announced that the issue of the company’s legal address would be decided by the shareholders themselves.

Thus, the Omsk region will finally and irrevocably lose a significant part of the budget, because fifty percent of its revenue was previously provided by the Sibneft company.
And even after Polezhaev said during the press conference that the re-registration of the company “meets neither the interests of Gazprom nor the state interests,” his words did not have the desired effect.
Moreover, Gazprom decided to put the presumptuous governor in his place. In a special statement issued by the national gas monopoly regarding the re-registration, it is noted that... “The holding considers Sibneft as a company whose tax base should provide effective support not only to the Omsk region, but also to all regions of its presence. The distribution of taxes should be proportional to the “weight” of assets in the structure of the Sibneft company.
Conclusion. The whole process of sprinkling ashes on one’s head is nothing more than a storm in a glass of water specially organized by Polezhaev. The governor needs her in order to show himself as an implacable defender of the region from the arbitrariness of the center in case of resignation.
Everything is done in order to leave with the halo of a fighter for the interests of the region. And divert public attention from many interesting facts.

Schizophrenics knit brooms, and paranoids draw zeros
After the Moscow debates, Leonid Konstantinovich seemed to have problems with mental health. One day, on a frosty January night, he ordered the secret cutting down of the unique blue spruces that had been growing there for decades in the park around the regional administration. Cut it down only on the grounds that terrorists could be hiding in the branches to shoot at the windows of the governor’s office. Polezhaev is no longer young, but his paranoid fantasies began to progress precisely after the complete failure of negotiations in Moscow: in Gazprom and the Kremlin regarding the preservation of the “Omsk registration” of the Sibneft company.
But Gazprom did not acquire the company in order to transfer assets to Omsk and register a legal address in the West Siberian region.

CJSC "Sibneftavia"

LLC "Club "Zarechye"

LLC "Sibneft - AZS Service"

Moscow st. B. Communist.page 1

LLC "Sibneft - Krasnoyarsknefteproduct"

Krasnoyarsk, Northern Highway "G"

LLC "Sibneft-Tomsk"

Tomsk, per. Zaozerny, 1

LLC "Khantos"

Khanty-Mansiysk, st. Mira, 149

OJSC "Sibneft-Noyabrskneftegaz"

LLC "Sibneft-Yugra"

Khanty-Mansiysk, st. Mira, house 149

OJSC "Sverdlovsknefteproduct"

OJSC "Meretoyakhaneftegaz"

Yamalo-Nenets Autonomous Okrug, Purovsky district, Muravlenko, Industrial base panel 15

LLC "Sibneftenergo"

OJSC "Ekaterinburg Oil Products Company"

Ekaterinburg, Siberian tract, 5 km

CJSC "TV-6 REGION"

Key market odds

Stock valuation

6 months 2002

Capitalization, thousand dollars

Book value of shares, dollars

Earnings per share, dollars

Dividends, % of net profit

For reference:

OA dividend, rub.

OA quote at the end of the period, dollars.

Dollar exchange rate at the end of the year

The company's shares are liquid and traded on the RTS, MICEX, MSE, St. Petersburg Stock Exchange, in addition, the company has issued ADRs, which are traded on world stock exchanges. The company regularly pays dividends. At the end of 2001, the amount of dividends increased sharply compared to previous periods. The percentage of net income allocated to dividends increased from 0.81% in 2000 to 29.88% in 2001.

The company's capitalization in the first half of 2002 increased sharply compared to the beginning of the period.

Dynamics of quotations of OJSC Sibneft on the RTS

Production activities of the company

Solvency ratios

6 months 2002

General solvency indicator

Absolute liquidity ratio

"Critical Appraisal" Coefficient

Current ratio

Coeff. maneuverability of operating capital

Improved financial results of the company led to an increase in profitability indicators. Thus, the company's net profit increased by 31.4% compared to the same period in 2001.

Key production efficiency indicators

Total capital turnover ratio (resource productivity)

Inventory turnover (days)

Accounts receivable turnover, days

Accounts payable turnover, days

Business activity indicators in 2001 deteriorated somewhat. The significant increase in accounts receivable turnover in 2001 is associated, in particular, with an increase in debt from buyers and customers.

Analytical department of RIA "RosBusinessConsulting"

Company materials were used in preparing the review

Currently, the oil company Sibneft has been renamed Gazprom Neft. Therefore, see the latest vacancies on the official website of the Gazpromneft company. Working conditions and schedule - 30 to 30 shift in the North. Main professions: drivers, mechanics, general workers, equipment operators, insulators, welders, accountants, geologists, derrick assemblers, electricians, there are women's shift positions and others. Vacancies and reviews from company employees.

Sibneft company: official website - www.gazprom-neft.ru.
Open vacancies for the oil company Sibneft are available at www.gazprom-neft.ru/career/vacancies.
Be careful, vacancies are posted only on official websites. Access to all contacts and vacancies is free. Without intermediaries from the direct employer. Below is collected information from open sources for your reference.

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Work at the Siberian Oil Company. The following enterprises can be considered the largest oil producing and oil refining companies operating in Siberia:

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• OJSC NK "Sibneft" (Siberian Oil Company)
• Siberian-Far Eastern Oil Company
• West Siberian Oil Company"

OJSC NK Sibneft began its work in September 1995. After just 3 years, the company’s personnel numbered almost 50 thousand people who worked at 4 enterprises included in the OJSC:

• OJSC Sibneft-Noyabrsneftegaz
• OJSC "Noyabrskneftegazgeofizika"
• OJSC "Sibneft-Omsknefteprodukt"
• OJSC Sibneft-Omsk Oil Refinery

Today, Sibneft annually produces over 19 million tons of “black gold”, and the volume of oil refining reaches 16 million tons. In total, oil reserves at the fields owned by the company are estimated at 900 million tons, while proven reserves amount to 571.2 million tons.

Joint Stock Company Sibneft is the largest oil company in Siberia, and its main shareholder is Financial Oil Corporation LLC (48%). In total, the register of shareholders can count over 5 thousand shareholders.

OJSC "East Siberian Oil and Gas Company"

This enterprise is engaged in geological exploration of promising territories and hydrocarbon production at the YTM (Yurubcheno-Tokhomskoye oil and gas condensate field, Krasnoyarsk Territory). The competence of the specialists of OJSC East Siberian Oil and Gas Company includes any preparatory and preliminary work related to the full-scale development of new fields, well testing, and trial oil production. The company's main clients are mining enterprises in the North Yenisei and Evenki regions.

In 2007, OJSC Vostsibneftegaz became part of OJSC NK Rosneft. The company is currently implementing a new project related to the development of the Yurubcheno-Tokhomskoye field.

OJSC NK "Sidanko" (Siberian-Far Eastern Oil Company)

This enterprise was created by the Ministry of Fuel and Energy of the Russian Federation back in 1994. Today, the JSC's staff numbers over 87 thousand people. A huge number of oil and gas producing companies and oil refining enterprises operate under the leadership of Sidanco:

• Novosibirskneftegaz
• "Udmurtneft"
• "Saratovneftegaz"
• "Angarskneftekhimproekt"
• "Khabarovsk Oil Refinery"
• "Kamchatnefteprodukt"
• "Magadannefteprodukt" and many others

West Siberian Oil Company

This LLC was registered in the Tyumen region in 2011. The main activity of West Siberian Oil Company LLC is wholesale trade in diesel fuel. The company is the largest fuel supplier in the region, and its clients include hundreds of transport companies, vehicle fleets and local municipal services.

The subject of Sibneft's activities is to ensure the search, exploration, production, refining of oil, gas, gas condensate, as well as the sale of oil, gas, gas condensate and their processed products to consumers in the Russian Federation and abroad, any related activities, as well as types of activities related to working with precious metals and precious stones. We emphasize that the quality of Sibneft’s fuel products fully complies with the standards approved by Russian regulations, as well as European Union regulations.

When NK Sibneft was created, some of the most promising enterprises in Russia were included in its composition. The fields of Noyabrskneftegaz, the main production enterprise of Sibneft, are at an early stage of development. Noyabrsk oil is characterized by low density and low sulfur content, which allows it to be sold on the world market under the Siberian Light brand, which is quoted higher than Urals. with a salary of 68,000 rubles. The Omsk Oil Refinery is one of the leaders in both the capacity of technological units and the depth of oil refining. A good resource base and efficient processing capacity for raw materials predetermined the high pace of development of the company. Sibneft quickly increased the production of raw materials and maintained the competitiveness of the Omsk Refinery's products by modernizing its installations.

Millhouse Capital, the main shareholder of Sibneft, did not hide its intention to sell the company if a high price was offered for it. An attempt was made twice to sell the assets to Yukos (in 1997 and 2003), but both transactions were terminated. A long stay in a state of “pre-sale preparation” began to have a negative impact on Sibneft’s production indicators. Most of the profits received were directed by shareholders to pay dividends, the size of which became a record in the industry. A buyer was found in 2005. After Sibneft was purchased by Gazprom and changed its name to ““, a new stage in the company’s development began.

Company structure

Production

• Noyabrskneftegaz
• Archinskoe
• Zapolyarneft
• Sibneft-Chukotka
• Sibneft-Yugra

Recycling

• Omsk Oil Refinery

Creation of a company. All projects by year

Sibneft was founded on August 24, 1995. The State Property Committee ordered the inclusion of the Noyabrskneftegaz oil production enterprise, the Omsk Oil Refinery, the Noyabrskneftegazgeofizika geological exploration enterprise and the Omsknefteprodukt distribution network into the company. The listed enterprises were spun off from Rosneft.

Privatization

In December 1995, an auction was held for the right to provide a loan to the government of the Russian Federation secured by 51% of the shares of Sibneft. The winner was CJSC Oil Finance Company, the creditor was JSCB SBS, and the guarantor of the transaction was Bank MENATEP. The loan amount was $100.3 million.

An investment competition was held for the sale of 19% of Sibneft shares. The winner was Firma Sins CJSC, which paid 82.4 billion rubles for a stake and pledged to provide investments in the amount of $45 million.

An investment competition was held for the sale of 15% of Sibneft shares. The winner was CJSC Refine Oil, which paid 65 billion rubles for a stake and pledged to invest $35.5 million.

A commercial competition was held with investment conditions for the sale of 51% of the shares of Sibneft that were pledged. The winner was Financial Oil Corporation LLC, which paid $110 million for the package and pledged to invest $40 million in the development of the company.

Reconstruction of the Omsk Oil Refinery

Since May 1996, the legal status of the Omsk Oil Refinery has changed - it has become a subsidiary of Sibneft. After this, the company began implementing a long-term enterprise reconstruction program designed for the period until 2010. The program provides for the installation of new equipment that will expand the number of secondary oil refining processes. A significant part of the program has already been completed. Among the main achievements are the cessation of production of leaded motor gasoline, the development of production of AI-98 gasoline, and the reduction of sulfur and aromatic hydrocarbons in diesel fuel. The company reduced losses of raw materials and introduced energy-saving technologies.

Acquisition of VSNGK

In March 1997, Sibneft, together with friendly structures, acquired 47.02% of the shares of the East Siberian Oil and Gas Company at a cash auction. VSNGK united the production enterprise Yeniseineftegaz, the geological exploration division Yeniseigeofizika and the sales network Vostsibneftegazservice. The main asset of VSNGK is the license for exploration and development of the Yurubchensky section of the Yurubcheno-Takhomsky zone. Geological reserves of the site at the time of the transaction were estimated at 700 million tons of oil.

Eurobond issue

In September 1997, Sibneft announced the completion of the placement of three-year Eurobonds in the amount of $150 million. The interest rate on the bonds was set at LIBOR + 4%. Sibneft became the first Russian oil company that managed to enter the European debt market. The company distributed the funds received from the sale of bonds as follows: 75% was used to implement projects to increase oil production at the fields of Noyabrskneftegaz, 20% went to modernization Omsk Oil Refinery, 5% invested in the Omsknefteproduct sales network.

The fall in oil prices and the crisis of the Russian financial system forced Sibneft to look for ways to reduce costs. The company cut the investment program of Noyabrskneftegaz, significantly reducing the largest expense items: capital construction and drilling of new wells. It was also decided to withdraw service enterprises from Noyabrskneftegaz.

Sale of VSNGK

In October 1999, Sibneft sold a controlling stake in the East Siberian Oil and Gas Company to RAO Rosneftegazstroy. Later this block of shares became the property of NK YUKOS.

Transition to a single share

On January 13, NK Sibneft announced the official terms for the exchange of its shares of the 2nd issue for shares of OJSC Noyabrskneftegaz and OJSC Noyabrskneftegazgeofizika. The board of directors of the company has established the following exchange ratios: 8 shares of Sibneft for 1 ordinary share of Noyabrskneftegaz, 4 shares of Sibneft for 1 preferred share of Noyabrskneftegaz, 3 shares of Sibneft for 1 ordinary share of Noyabrskneftegazgeofizika.

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Expansion of the resource base

In 2000, NK Sibneft won the competition for the right to develop the southwestern section of the Krapivinskoye field, located in the Tarsky district of the Omsk region. Initially, the company planned to build a mini-refinery at the field, but later it was decided to deliver the extracted raw materials to the Omsk Refinery.
In 2002, Sibneft put into operation a new oil pipeline that connected the southwestern part of the Krapivinskoye field with the Transneft trunk system. The length of the route is 58 km, the capacity of the pipeline allows transporting up to 5 thousand tons of oil per day. Previously, raw materials produced at the Krapivinskoye field were delivered to the Omsk Refinery by road.
As of January 1, 2007, oil reserves of the Krapivinskoye field in category B+C1 were: balance - 37.6 million tons, recoverable - 11.5 million tons. On balance oil reserves in category C2 are 1.6 million tons, recoverable reserves are 0.5 million tons. Recoverable gas reserves: category C1 - 230 million cubic meters. m, in category C2 - 12 million cubic meters. m.

In 2000, NK Sibneft produced the first thousand tons of oil at the Yarainerskoye field, located in the Yamalo-Nenets Autonomous Okrug. The company with which Sibneft entered into a strategic partnership agreement took an active part in the development of the field. Using Schlumberger technology, wells with horizontal entry into the productive formation were drilled at the Yarainerskoye field, and a number of other advanced technologies were also used.
The total reserves of the Yarainerskoye field in categories C1 and C2 were estimated at 99 million tons, recoverable - 34.4 million tons.

ONAKO and Orenburgneft

In 2000, Sibneft acquired from Yukos a 38% stake in Orenburgneft OJSC, the main production enterprise of ONAKO Oil Company, for $430 million. The deal took place shortly before the privatization of the state stake in ONAKO. The auction for the sale of 85% of ONAKO shares was won by EuroTEK CJSC, representing the interests of the shareholders of the Tyumen Oil Company. Having acquired a controlling stake in ONAKO, TNK expressed interest in obtaining the remaining shares of this oil company, as well as its main production enterprise.
The parties discussed various options, including the exchange of 38% shares of Orenburgneft and 1% shares of ONAKO for 8.6% shares of TNK-International. As a result, the companies agreed that TNK would buy the assets it was interested in from Sibneft for $825 million. The deal was completed in the spring of 2003.

Acquisition of shares in Stavropolneftegaz

In December 2000, Sibneft acquired a 27% stake in Stavropolneftegaz. The main shareholder of this enterprise was "", which owned 38% of the shares of Stavropolneftegaz. At the annual meeting of shareholders, Sibneft candidates received two seats on the board of directors out of nine.

JV "Sibneft-Yugra"

In 2002, OAO Sibneft and OAO ANK Yugraneft signed an agreement to create the Sibneft-Yugra joint venture. Yugraneft contributed licenses for the Yuzhno-Priobskoye and Vostochno-Palyanovskoye oil fields to the authorized capital of the joint venture, and Sibneft pledged to provide financial resources for the implementation of the project. The authorized capital of the joint venture is divided in equal shares between the partners.
The volume of recoverable reserves of the joint venture is estimated at 300 million tons.

Expansion of the sales network (Ekaterinburg and region)

In 2000, NK Sibneft acquired controlling stakes in OJSC Sverdlovsknefteproduct and CJSC Yekaterinburg Oil Products Company. The acquisition of these enterprises made it possible for Sibneft to occupy a dominant position in the oil products market of the Ural region. At the time of the transaction, the structure of OJSC Sverdlovsknefteproduct and CJSC Ekaterinburg Oil Products Company included 132 gas stations and 20 oil depots; the enterprises jointly controlled about half of the fuel market in the Sverdlovsk region.

"Sibneft-Chukotka"

In 2001, Sibneft and Chukotka Trading Company established the Sibneft-Chukotka enterprise on parity terms. The Chukotka Trading Company contributed to the authorized capital of the established enterprise licenses for the development of a number of areas in the district - Lagunnoye (estimated reserves - 38 million tons of equivalent fuel), Telekaisky (proven reserves - 2.8 million tons of oil and 2 billion cubic meters of gas) and Zapadno-Ozernoye (5 billion cubic meters of gas). The licensed areas are located on the continental part of the Anadyr basin. In April 2004, Sibneft produced its first oil in Chukotka. An influx of oil was obtained during testing of an exploration well drilled at the Verkhne-Telekayskoye field. The field's recoverable reserves are estimated at 2.2 million tons of fuel equivalent.

Entering the Moscow fuel market

In 2001, NK Sibneft acquired from NK LUKOIL a 35% stake in OAO Moscow Refinery and 14.95% in OAO Mosnefteprodukt. In 2003, by purchasing shares, the company increased its share in the voting securities of Moscow Oil Refinery OJSC to 39%. The share in OJSC Mosnefteproduct in 2003 reached 26.8%.

Expansion of the sales network (Tyumen region)

In 2001, NK Sibneft, together with friendly structures, acquired 78.4% of the voting shares of the sales enterprise Tyumennefteprodukt OJSC from the Tyumen Oil Company. At the time of the transaction, Tyumennefteprodukt included 80 gas stations and 22 oil depots.
For TNK, the operation of Tyumennefteprodukt was low-profit due to the high costs of transporting petroleum products from the Ryazan refinery to Siberia. The supply of petroleum products from the Omsk Refinery increased the efficiency of the sales enterprise.

Acquisition of Slavneft

On December 6, 2002, Sibneft bought a 10.83% stake in Slavneft from Belarus. The company paid $207 million for the stake.
On December 18, 2002, an auction was held to sell 74.95% of the shares of Slavneft owned by the Russian Federation. The winner of the auction was Investoil LLC, created by Sibneft and TNK on parity terms. The block of shares was sold for $1.86 billion at a starting price of $1.7 billion. Another 12.98% of Slavneft shares were owned by a trust company, which was also controlled by Sibneft and TNK.
Sibneft and TNK jointly owned about 99% of Slavneft shares.

Acquisition of OJSC Meretoyakhaneftegaz

In April 2002, OAO Sibneft acquired a 67% stake in OAO Meretoyakhaneftegaz from a group of Russian and foreign investors. The main asset of OJSC Meretoyakhaneftegaz is the license to develop the Meretoyakhinskoye field, the balance reserves of which are estimated at 121 million tons of oil. In addition, the company owns a prospecting license for the Karasevsko-Tanlovsky subsoil plot. The Meretoyakhinskoye field is located close to the main area of ​​operation of Noyabrskneftegaz OJSC. This made it possible to begin industrial development of the field in the shortest possible time, using the developed infrastructure of Noyabrskneftegaz.

Expansion of the sales network (Krasnoyarsk Territory)

In 2002, NK Sibneft established a new subsidiary - LLC Sibneft-Krasnoyarsknefteproduct. The company sells petroleum products in the Krasnoyarsk Territory. Sibneft's share in the authorized capital of Krasnoyarsknefteproduct was 100%.

Joining oil traders

An extraordinary meeting of shareholders of OJSC Sibneft, held in February 2003, decided to join the company with the independent trader UNIKAR LLC. The merger of trading structures was carried out as part of a long-term policy aimed at consolidating financial and commodity flows. Previously, trading companies Terra, Vester, Olivesta and Argus were merged with Sibneft.

Section of Slavneft assets

On March 5, 2003, Sibneft and TNK entered into a preliminary agreement on the division of Slavneft assets. The partners decided to divide the production and marketing assets of Slavneft among themselves in equal shares. At the same time, the agreement does not establish a strict procedure for the supply of raw materials to the Slavneft refinery. It is planned that the companies will jointly manage the operation of the plants, ensuring optimal utilization of processing capacities with the possibility of redistributing shares in the supply of raw materials.

November Gas Energy Company

At the beginning of January 2003, AK SIBUR OJSC and Sibneft OJSC signed a memorandum on the creation of a joint venture Noyabrsk Gas Energy Company CJSC on the basis of the Muravlenkovsky Gas Processing Plant. SIBUR's share in the authorized capital of the joint venture was supposed to be 51%, Sibneft's share - 49%. SIBUR's contribution to the authorized capital of the joint venture is presented in the form of the property complex of the Muravlenkovsky Gas Processing Plant; Sibneft intended to contribute funds to the authorized capital, which were to be used for the construction of a gas turbine power plant. The creation of the Noyabrsk Gas Energy Company was suspended due to the merger of YUKOS and Sibneft. The implementation of the project to build a gas turbine power plant at the Muravlenkovsky gas processing plant was resumed only after the controlling stake in Sibneft was sold to Gazprom.

Sibneft-Khantos

In April 2005, Sibneft-Khantos LLC was created. It included the Priobsky and Palyanovsky territorial oil production projects. The main objective of the enterprise is the development of fields in the Khanty-Mansi Autonomous Okrug and the Tyumen region: Priobskoye, Palyanovskoye and Zimney, as well as a group of Salym sites (“Salym-2”, “Salym-3”, “Salym-5”).

Reconstruction of the Omsk Oil Refinery

In September 2005, the reconstruction of the L-35-11/1000 catalytic reforming unit with a hydrotreating unit was completed. The installation produces a high-octane component of gasoline with an octane number of up to 102. The plant's raw material capacity is 1 million tons per year.
Construction of the installation began in February 1996. From 1998 to 2000, work was suspended due to the financial crisis in Russia. Initially, it was planned to reconstruct only the reforming unit, but it was decided to also replace the hydrotreating unit.

Lopukhovsky block

In 2005, Sibneft bought 75% of TNK-Sakhalin LLC from TNK-BP. The main asset of this enterprise is the license to develop the Lopukhovsky block.
The Lopukhovsky block is located on the shallow shelf of Sakhalin between the fields included in the Sakhalin-4 and Sakhalin-5 projects. The area of ​​the site is 3.5 thousand square meters. km, the block's forecast reserves are estimated at 130 million tons of oil and 500 billion cubic meters. m of gas. The results of seismic exploration carried out in 2003-2004 by TNK-BP specialists showed the low prospects of the block.

In March 2006, Sibneft signed an agreement with RK-Gazsetservis, under which the company purchased 14 multifunctional gas filling complexes in the Moscow and Tver regions operating under the EPetrol brand. The purchased filling stations have equipment that allows for the sale of natural gas motor fuel. Previously, Sibneft was not present in the gas fuel market.

5 (100%), Ratings: 8

09.29.2005, Photo: Reuters, Roman Abramovich went into big sport

The largest transaction in the entire history of the Russian market was completed

Varvara Aglamishyan

Gazprom buys a 72.663% stake in the oil company Sibneft, controlled by Roman Abramovich. The transaction amount is $13.1 billion. This is not just a takeover of the year, but also a transaction unprecedented in its scale. As a result, a supergiant appeared in Russia - Gazprom, which controls not only more than 90% of gas production, but now also a third of oil production within the country. By selling Sibneft, Abramovich not only made very good money. This deal can serve as a model for the oligarchs still remaining in Russia. An example of how to leave on good terms.

Yesterday it became finally clear what a good career is for an oligarch in our country. Roman Abramovich sold his last major asset in Russia. [...] And he himself remains the governor of Chukotka and the owner of the British football club Chelsea. Abramovich began selling off his assets in 2003. The company that manages its assets, Millhouse Capital, sold a 26% stake in Aeroflot to NRB. This was followed by a deal with YUKOS (YUKOS-Sibneft never came into being) and the sale of 50% in Russian Aluminum. Abramovich did not change his plans.

Now Abramovich is free from all the problems that come with life as the owner of a large company. Tax inspectors will no longer come with complaints and no one will ask under what conditions Sibneft was purchased in 1995. Now his occupation is football. And the leadership of Chukotka, where local residents and federal authorities pray for him. [...]

Company of the week: Sibneft's journey

Tatyana Lysova

The Sibneft company has actually returned to where it unexpectedly fled 10 years ago - into the arms of the state. True, in this case it acts under the cover of Gazprom, which will have to pay $13 billion to return the fugitive to her current owners. Those who, by the way, spent about 100 times less in their time on this asset. In the history of new Russia, no one has yet managed to make such money from their state. And this phenomenon of Sibneft can be explained, in particular, by the fact that both transactions - its purchase and the current sale - are politically motivated. But it is not customary for us to save money on political projects.

This company should not have existed in principle. Who doesn’t believe it, ask the then Minister of Fuel and Energy Yuri Shafranik and Prime Minister Viktor Chernomyrdin. Sibneft, the only major oil company, was created bypassing normal procedures, by presidential decree, and immediately put up for auction.

I remember this amazing event in detail. I remember Boris Berezovsky running through the corridors of the State Property Committee, an unexpectedly announced multi-hour break and the face of the chairman of the board of directors of Sameco, Sergei Kalugin, when he was told that his company’s application had been withdrawn from the competition based on a letter from the general director of Sameco (to which, as he himself admitted to me, , he had no authority). I remember the amount of Sameco’s bid—$171 million—and the winner’s offer—$100.3 million.

All this disgrace was staged for the sake of the upcoming elections: Yeltsin’s victory was supposed to be ensured by ORT with the money of Sibneft. Now there is still a year and a half before the elections, but the search for a successor has already begun - it is a slow and fantastically difficult task. After all, not only the president himself is concerned about the choice, but also the rather contradictory “collective GDP”, consisting of “security officials”, “lawyers”, “liberals”, “fragments of the family”, etc. Their chances of promoting “their” candidate will depend on the applied resource to it. The deal between Gazprom and Sibneft also has economic reasons. But it looks like a response from the “St. Petersburg lawyers” to the sharp increase in the resources of the “St. Petersburg security officials” at the expense of the crushed YUKOS.

Shopping on a national scale

Gazprom has the money to buy Sibneft, but does not have the funds to gasify the country.

The use by Russian officials of the resources of state-owned companies in the interests of their clans has long been a fact of business life in the country. Just as an indisputable fact of reality is a certain disdain with which the top management of large state-owned companies treats their core responsibilities. However, literally within two days, the public was given an example of what happens to core responsibilities when they interfere with the acquisition of property.

On Wednesday, the Gazprom concern acquired 72.663% of the shares of Sibneft for $13.091 billion. Both sides have been preparing for this deal for a long time. Gazprom announced a $12 billion loan from a consortium of Western banks. At the general meeting of shareholders, Sibneft decided to pay a record dividend in the history of Russian business - $2 billion.

A few hours before the announcement that the deal had taken place, Deputy Chairman of the Board of Gazprom Alexander Ryazanov announced a kind of motivation: Sibneft is a ready-made asset. If you have money, why not buy.”

The fact that Gazprom has money is certainly a gratifying fact. How then to deal with the fact that throughout 2005, the management of the state concern, the head of the board of directors of which is the head of the presidential administration, persistently proved to the government that it had no money for anything, and therefore it was necessary to increase, for example, domestic tariffs for gas and , in general, to make life as easy as possible for the concern.

One could probably believe this. But as soon as the management of Gazprom is faced with the question of acquiring some useful or simply liked asset, the formula used by Mr. Ryazanov immediately comes into play: “... a ready-made asset. If you have money, why not buy.”

This could be the case with the acquisition of the main producing asset of YUKOS - Yuganskneftegaz, which was stolen from under the nose of the Gazprom party by the party of another state-owned company Rosneft, which the Kremlin officials behind it and its own top managers also use as a tool to purchase the assets you like or need.

There is no point in arguing about which companies are more effectively managed: state-owned or private. Or when Yuganskneftegaz worked better - as part of the private Yukos or the state Rosneft.

Here the problem arises of the actual replacement of state property with the property of specific shadow owners.

Moreover, these shadow owners, on behalf of the state, simply collect more and more assets, just as the wife of some New Russian millionaire collects diamonds.

The consequences of such a public-private partnership are obvious. In Russia, which ranks first in the world both in production and in proven gas reserves, thousands, if not tens of thousands of settlements have still not been gasified. Vladimir Putin, during the last session of communication with the population, admitting that gasification of the country is proceeding very slowly, gently scolded Gazprom, which is not doing its best.

It’s not that they won’t get there. They are simply busy with other assets all the time.

Original of this material
"Kommersant", 09.29.2005, Sibneftedobycha

What was Roman Abramovich selling?

In March 2002, the rights to develop the Mnogovershinnoye, Novoshirokoye and Darasun deposits were sold to the South African gold mining company Highland Gold Mining. The transaction amount was not disclosed.

On May 23, 2002, Mr. Abramovich’s management company Millhouse Capital sold a 1.26% stake in Sibneft to the German investment bank UBS Warburg for $127.2 million

On March 19, 2003, 26% of the shares of Aeroflot - Russian Airlines were sold to the National Reserve Bank. The transaction amount was not disclosed. According to media reports, it amounted to $133 million

On August 1, 2003, Ogonyok magazine was sold to Video International by Millhouse Capital. The transaction amount was not disclosed.

On October 3, 2003, Roman Abramovich sold a 25% stake in Russian Aluminum OJSC to the Basic Element company for $2 billion As a result, Oleg Deripaska gained control over 75% of the shares of Russian Aluminum.

On October 11, 2003, Millhouse Capital sold a 37.5% stake in Ruspromavto to Basic Element. The transaction amount was not disclosed.

In October 2003, Mr. Abramovich sold 40% of the shares of Irkutskenergo and 70% of the shares of the Krasnoyarsk hydroelectric power station to Basic Element. The transaction amount was not disclosed.
In March 2004, Millhouse Capital sold part of the assets of the Planet group (the largest operator of the food market), namely its dairy division Unimilk, to two top managers of Planet - Andrei Beshmelnitsky and Andrei Blokh. The transaction amount was not disclosed.

In October 2004, the remaining 25% of Russian Aluminum was transferred to Basic Element. Transaction amount - $1.5 billion

On August 30, 2004, the Leader and Novgorod Meat Plants, which belonged to Mr. Abramovich, were acquired by the Gurman holding. The transaction amount was estimated by experts at $3-5 million

On August 10, 2005, Millhouse Capital sold the Marbiopharm vitamin plant to the large pharmaceutical distributor Biotek. The transaction amount was not disclosed.

Privatization and nationalization of the oil industry

On November 17, 1992, Russian President Boris Yeltsin signed a decree “On the peculiarities of privatization and transformation into joint-stock companies of state-owned enterprises, production and scientific-production associations of the oil, oil refining industry and petroleum products supply.” In April 1993, by government resolutions, open joint stock companies LUKOIL, YUKOS and Surgutneftegaz were formed. The state received 45% of the authorized capital in them, 55% were intended for gradual privatization in 1993-1994. The remaining oil producing enterprises were merged into the state enterprise Rosneft. In August 1995, the state-owned Tyumen Oil Company (TNK) and the Siberian Oil Company (Sibneft) were created.

At the end of March 1995, the President of ONEXIM Bank, Vladimir Potanin, on behalf of the banking consortium, proposed a deal to the government: banks were ready to lend to the government in exchange for the right to manage government stakes, for which special collateral auctions were held. If the loan was not repaid (as happened), the assets were transferred to management companies. In November 1995, Surgutneftegaz won a loans-for-shares auction for 40.16% for 1.4 trillion rubles. pension fund "Surgutneftegaz", in December 1995, a controlling stake in SIDANKO went to ONEXIMBANK for $130 million; MENATEP received 78% of YUKOS shares for $159 million; 51% of Sibneft shares went for $100.3 million to the Capital Savings Bank and JSC Oil Financial Company.

In September 1996, a cash auction was held for 34% of SIDANCO shares. The winner was ONEXIMbank, which offered about $700 million. In September-October 1996, stakes in Sibneft were sold at two investment auctions (19% was acquired by Boris Berezovsky and his company Sins, 15% by Roman Abramovich and his Refine Oil ). In July 1997, an auction was held to sell 40% of TNK shares, which went to Alfa Group and Renova for $810 million. In December 1997, Yukos acquired a 44% stake in the state-owned Eastern Oil Company. An auction for Rosneft was scheduled for the first half of 1998, which was jointly bid for by YUKOS and Sibneft (who planned to merge into the YUKSI company), BP and a specially created alliance of Shell, Gazprom and LUKOIL. The starting price was expected at $2.5 billion and seemed overpriced to investors. As a result, not a single application was submitted to the competition. In December 1999, the remaining 49.8% of TNK shares held by the state were purchased at auction by Alfa Group and Renova for $90 million. In September 2000, the winner of the investment competition for the sale of the state stake in ONAKO (85%) was TNK, which bought it for $1.08 billion. On December 18, 2002, 74.95% of Slavneft shares were sold at auction for $1.86 billion to Investoil CJSC, which represented the interests of Sibneft and TNK. After this, the process of privatization of the fuel and energy complex practically stopped: the state only sold off the remaining small stakes.

In 2004, after the attack on NK YUKOS, the first deprivatization deal took place: on December 19, 2004, 76.79% of the authorized capital of YUKOS' main production asset OJSC Yuganskneftegaz was auctioned off to Baikal Finance Group LLC for $9.36 billion. A few days later days, Baikal Finance Group, together with YNG, was purchased by the state-owned Rosneft.

Brief description of the company

When creating NK "Sibneft" Some of the most promising enterprises in Russia were included in its composition. The fields of Noyabrskneftegaz, the main production enterprise of Sibneft, are at an early stage of development. Noyabrsk oil is characterized by low density and low sulfur content, which allows it to be sold on the world market under the Siberian Light brand, which is quoted higher than Urals. The Omsk Oil Refinery is one of the leaders in both the capacity of technological units and the depth of oil refining. A good resource base and efficient processing capacity for raw materials predetermined the high pace of development of the company. Sibneft quickly increased the production of raw materials and maintained the competitiveness of the Omsk Refinery's products by modernizing its installations.

Millhouse Capital, the main shareholder of Sibneft, did not hide its intention to sell the company if a high price was offered for it. An attempt was made to sell the assets to Yukos twice (in 1997 and 2003), but both transactions were terminated. A long stay in a state of “pre-sale preparation” began to have a negative impact on Sibneft’s production indicators. Most of the profits received were directed by shareholders to pay dividends, the size of which became a record in the industry. A buyer was found in 2005. After Sibneft was purchased by Gazprom and changed its name to Gazprom Neft, a new stage in the company's development began.

Company structure (as of 2005)

Production
Noyabrskneftegaz
Archinskoe
Zapolyarneft
Sibneft-Chukotka
Sibneft-Yugra

Recycling
Omsk Oil Refinery

Company history and projects

Company creation
Sibneft was formed on the basis of decree of the President of the Russian Federation Boris Yeltsin No. 872 of August 24, 1995. On October 11, 1995, the State Property Committee ordered the inclusion of the Noyabrskneftegaz oil production enterprise, the Omsk Oil Refinery, the Noyabrskneftegazgeofizika geological exploration enterprise and the Omsknefteprodukt distribution network into the company. The listed enterprises were spun off from Rosneft.

Privatization
In December 1995, an auction was held for the right to provide a loan to the government of the Russian Federation secured by a 51% stake in Sibneft. The winner was CJSC "Oil Finance Company", the creditor was JSCB "SBS", the guarantor of the transaction was Bank "MENATEP". The loan amount was $100.3 million.

On September 20, 1996, an investment competition was held to sell 19% of Sibneft shares. The winner was Firma Sins CJSC, which paid 82.4 billion rubles for a stake and pledged to provide investments in the amount of $45 million.

On October 24, 1996, an investment competition was held to sell a 15% stake in Sibneft. The winner was CJSC Refine Oil, which paid 65 billion rubles for a stake and pledged to invest $35.5 million.

On May 12, 1997, a commercial competition was held with investment conditions for the sale of 51% of the shares of Sibneft that were pledged. The winner was Financial Oil Corporation LLC, which paid $110 million for the package and pledged to invest $40 million in the development of the company.

Reconstruction of the Omsk Oil Refinery
Since May 1996, the legal status of the Omsk Oil Refinery has changed - it has become a subsidiary of Sibneft. After this, the company began implementing a long-term enterprise reconstruction program designed for the period until 2010. The program provides for the installation of new equipment that will expand the number of secondary oil refining processes. A significant part of the program has already been completed. Among the main achievements are the cessation of production of leaded motor gasoline, the development of production of AI-98 gasoline, and the reduction of sulfur and aromatic hydrocarbons in diesel fuel. The company reduced losses of raw materials and introduced energy-saving technologies.

Acquisition of VSNGK
In March 1997, Sibneft, together with friendly structures, acquired 47.02% of the shares of the East Siberian Oil and Gas Company at a cash auction. VSNGK united the production enterprise "Yeniseineftegaz", the geological exploration division "Yeniseigeofizika" and the sales network "Vostsibneftegazservice". The main asset of VSNGK is the license for exploration and development of the Yurubchensky section of the Yurubcheno-Takhomsky zone. Geological reserves of the site at the time of the transaction were estimated at 700 million tons of oil.

Eurobond issue
In September 1997, Sibneft announced the completion of the placement of three-year Eurobonds in the amount of $150 million. The interest rate on the bonds was set at LIBOR + 4%. Sibneft became the first Russian oil company that managed to enter the European debt market. The company distributed the funds received from the sale of bonds as follows: 75% was allocated to the implementation of projects to increase oil production at the fields of Noyabrskneftegaz, 20% went to modernize the Omsk Oil Refinery, 5% was invested in the Omsknefteproduct sales network.

Change of company president
On July 14, 1998, the board of directors of NK Sibneft granted Andrei Blokh's request to resign from the post of president of the company. Evgeny Shvidler, who previously served as first vice president, was appointed the new president of Sibneft.

"YUKSI"
On January 19, 1997, in Moscow, the heads of the Yukos and Sibneft companies signed a memorandum on combining their production facilities and management structures. The merged company was named "UKSI".
The new holding actually united 4 Russian oil companies - YUKOS, Eastern Oil Company, whose controlling stake was held by YUKOS, Sibneft and East Siberian Oil and Gas Company, controlled by Sibneft. At the time of its creation, YUKSI occupied third or fourth place among the oil giants of the world and first among Russian companies.
It was planned that at the first stage the companies would operate as four independent structures within the holding. At the second stage, their complete merger should have occurred. Organizational arrangements were planned to be completed during 1998.
In the new oil holding, 60% of the combined equity participation was to belong to YUKOS shareholders, 40% to Sibneft shareholders.
Mikhail Khodorkovsky, who was at that time the chairman of the board of YUKOS, was appointed president of YUKSI. Evgeniy Shvidler, who held a similar position at Sibneft, was appointed first vice-president of YUKSI for finance.
In May 1998, Yukos and Sibneft published official messages about the suspension of the merger process. The parties did not disclose the reason for abandoning the planned plan, stating only that YUKOS and Sibneft would remain independent companies. At the same time, all agreements signed by YUKSI with foreign partners remain in force, but further negotiations will be conducted separately with each of the participants of YUKSI.
As it turned out later, statements about the deep integration of YUKOS and Sibneft were made in advance; in reality, they continued to operate as separate companies. This fact predetermined the ease of returning to the previous state and the absence of conflicts during the division of "YUKSI".

1998 financial crisis
The fall in oil prices and the crisis in the Russian financial system forced Sibneft to look for ways to reduce costs. The company has cut the investment program of Noyabrskneftegaz, significantly reducing the largest expense items: capital construction and drilling of new wells. It was also decided to withdraw service enterprises from Noyabrskneftegaz.

Sale of VSNGK
In October 1999, Sibneft sold a controlling stake in the East Siberian Oil and Gas Company to RAO Rosneftegazstroy. Later this block of shares became the property of NK YUKOS.

Transition to a single share
On January 13, NK Sibneft announced the official conditions for the exchange of its shares of the 2nd issue for shares of OJSC Noyabrskneftegaz and OJSC Noyabrskneftegazgeofizika. The board of directors of the company has established the following exchange ratios: 8 shares of Sibneft for 1 ordinary share of Noyabrskneftegaz, 4 shares of Sibneft for 1 preferred share of Noyabrskneftegaz, 3 shares of Sibneft for 1 ordinary share of Noyabrskneftegazgeofizika.

Minority Shareholders Committee
In 1999, the board of directors of Sibneft JSC decided to create a committee to work with minority shareholders (having less than 2% of the company's shares). The committee’s tasks included developing a strategy to take into account the rights and interests of small shareholders. The need to create a committee was caused by an increase in the number of shareholders as a result of the exchange of shares of the company's subsidiaries for shares of the holding.

Expansion of the resource base
In 2000, NK Sibneft won the competition for the right to develop the southwestern section of the Krapivinskoye field, located in the Tarsky district of the Omsk region. Initially, the company planned to build a mini-refinery at the field, but later it was decided to deliver the extracted raw materials to the Omsk Refinery.
In 2002, Sibneft commissioned a new oil pipeline that connected the southwestern part of the Krapivinskoye field with the Transneft trunk system. The length of the route is 58 km, the capacity of the pipeline allows transporting up to 5 thousand tons of oil per day. Previously, raw materials produced at the Krapivinskoye field were delivered to the Omsk Refinery by road.
As of January 1, 2007, oil reserves of the Krapivinskoye field in category B+C1 were: balance - 37.6 million tons, recoverable - 11.5 million tons. On balance oil reserves in category C2 are 1.6 million tons, recoverable reserves are 0.5 million tons. Recoverable gas reserves: category C1 - 230 million cubic meters. m, in category C2 - 12 million cubic meters. m.

In 2000, NK Sibneft produced the first thousand tons of oil at the Yarainerskoye field, located in the Yamalo-Nenets Autonomous Okrug. The Schlumberger company took an active part in the development of the field, with which Sibneft entered into a strategic partnership agreement. Using Schlumberger technology, wells with horizontal entry into the productive formation were drilled at the Yarainerskoye field, and a number of other advanced technologies were also used.
The total reserves of the Yarainerskoye field in categories C1 and C2 were estimated at 99 million tons, recoverable - 34.4 million tons.

In 2000, during an auction, Sibneft acquired licenses to develop the Pyakutinsky, Severo-Noyabrsky and Volyntoysky areas. The total volume of recoverable reserves in these areas was estimated at 100 million tons.

ONAKO and Orenburgneft
In 2000, Sibneft acquired from Yukos a 38% stake in Orenburgneft OJSC, the main production enterprise of ONAKO Oil Company, for $430 million. The deal took place shortly before the privatization of the state stake in ONAKO. The auction for the sale of 85% of ONAKO shares was won by EvroTEK CJSC, representing the interests of the shareholders of the Tyumen Oil Company. Having acquired a controlling stake in ONAKO, TNK expressed interest in obtaining the remaining shares of this oil company, as well as its main production enterprise.
The parties discussed various options, including the exchange of 38% shares of Orenburgneft and 1% shares of ONAKO for 8.6% shares of TNK-International. As a result, the companies agreed that TNK would buy the assets it was interested in from Sibneft for $825 million. The deal was completed in the spring of 2003.

Acquisition of shares in Stavropolneftegaz
In December 2000, Sibneft acquired a 27% stake in Stavropolneftegaz. The main shareholder of this enterprise was Rosneft, which owned 38% of the shares of Stavropolneftegaz. At the annual meeting of shareholders, Sibneft candidates received two seats on the board of directors out of nine.

JV "Sibneft-Yugra"
In 2002, OAO Sibneft and OAO ANK Yugraneft signed an agreement to create a joint venture Sibneft-Yugra. Yugraneft contributed licenses for the Yuzhno-Priobskoye and Vostochno-Palyanovskoye oil fields to the authorized capital of the joint venture, and Sibneft pledged to provide financial resources for the implementation of the project. The authorized capital of the joint venture is divided in equal shares between the partners.
The volume of recoverable reserves of the joint venture is estimated at 300 million tons.

Expansion of the sales network (Ekaterinburg and region)
In 2000, NK Sibneft acquired controlling stakes in OAO Sverdlovsknefteprodukt and ZAO Yekaterinburg Oil Products Company. The acquisition of these enterprises made it possible for Sibneft to occupy a dominant position in the oil products market of the Ural region. At the time of the transaction, the structure of OJSC Sverdlovsknefteproduct and CJSC Ekaterinburg Oil Products Company included 132 gas stations and 20 oil depots; the enterprises jointly controlled about half of the fuel market in the Sverdlovsk region.

"Sibneft-Chukotka"
In 2001, Sibneft and Chukotka Trading Company established the Sibneft-Chukotka enterprise on parity terms. The Chukotka Trading Company contributed licenses to the authorized capital of the established enterprise to develop a number of areas in the district - Lagunnoye (estimated reserves - 38 million tons of equivalent fuel), Telekaisky (proven reserves - 2.8 million tons of oil and 2 billion cubic meters of gas) and Zapadno-Ozernoye (5 billion cubic meters of gas). The licensed areas are located on the continental part of the Anadyr basin. In April 2004, Sibneft produced its first oil in Chukotka. An influx of oil was obtained during testing of an exploration well drilled at the Verkhne-Telekayskoye field. The field's recoverable reserves are estimated at 2.2 million tons of fuel equivalent.

Entering the Moscow fuel market
In 2001, NK Sibneft acquired from NK LUKOIL a 35% stake in OAO Moscow Oil Refinery Plant and 14.95% in OAO Mosnefteprodukt. In 2003, by purchasing shares, the company increased its share in the voting securities of Moscow Oil Refinery OJSC to 39%. The share in OJSC Mosnefteproduct in 2003 reached 26.8%.

Expansion of the sales network (Tyumen region)
In 2001, NK Sibneft, together with friendly structures, acquired 78.4% of the voting shares of the sales enterprise Tyumennefteproduct OJSC from the Tyumen Oil Company. At the time of the transaction, Tyumennefteprodukt included 80 gas stations and 22 oil depots.
For TNK, the operation of Tyumennefteprodukt was low-profit due to the high costs of transporting petroleum products from the Ryazan refinery to Siberia. The supply of petroleum products from the Omsk Refinery increased the efficiency of the sales enterprise.

Acquisition of Slavneft
On December 6, 2002, Sibneft bought a 10.83% stake in Slavneft from Belarus. The company paid $207 million for the stake.
On December 18, 2002, an auction was held to sell 74.95% of the shares of Slavneft owned by the Russian Federation. The winner of the auction was Investoil LLC, created by Sibneft and TNK on parity terms. The block of shares was sold for $1.86 billion at a starting price of $1.7 billion. Another 12.98% of Slavneft shares were owned by a trust company, which was also controlled by Sibneft and TNK.
Sibneft and TNK jointly owned about 99% of Slavneft shares.

Acquisition of OJSC Meretoyakhaneftegaz
In April 2002, OAO Sibneft acquired a 67% stake in OAO Meretoyakhaneftegaz from a group of Russian and foreign investors. The main asset of OJSC Meretoyakhaneftegaz is the license to develop the Meretoyakhinskoye field, the balance reserves of which are estimated at 121 million tons of oil. In addition, the company owns a prospecting license for the Karasevsko-Tanlovsky subsoil plot. The Meretoyakhinskoye field is located close to the main area of ​​operation of Noyabrskneftegaz OJSC. This made it possible to begin industrial development of the field in the shortest possible time, using the developed infrastructure of Noyabrskneftegaz.

Expansion of the sales network (Krasnoyarsk Territory)
In 2002, NK Sibneft established a new subsidiary - LLC Sibneft-Krasnoyarsknefteproduct. The company sells petroleum products in the Krasnoyarsk Territory. Sibneft's share in the authorized capital of Krasnoyarsknefteproduct was 100%.

Joining oil traders
An extraordinary meeting of shareholders of OJSC Sibneft, held in February 2003, decided to join the company with the independent trader UNIKAR LLC. The merger of trading structures was carried out as part of a long-term policy aimed at consolidating financial and commodity flows. Previously, trading companies Terra, Vester, Olivesta and Argus were merged with Sibneft.

Section of Slavneft assets
On March 5, 2003, Sibneft and TNK entered into a preliminary agreement on the division of Slavneft assets. The partners decided to divide the production and marketing assets of Slavneft among themselves in equal shares. At the same time, the agreement does not establish a strict procedure for the supply of raw materials to the Slavneft refinery. It is planned that the companies will jointly manage the operation of the plants, ensuring optimal utilization of processing capacities with the possibility of redistributing shares in the supply of raw materials.

YukosSibneft
In April 2003, NK Yukos and the main shareholders of NK Sibneft (Millhouse Capital) reached an agreement in principle to merge the companies. The merged company was named YukosSibneft. It was headed by Mikhail Khodorkovsky, who was at that time the chairman of the board of NK Yukos, the president of Sibneft Evgeny Shvidler received the post of chairman of the board of directors of YukosSibneft.
On May 14, 2003, Yukos and Sibneft announced the signing of a final agreement between the companies' main shareholders. YUKOS acquired a stake representing 20% ​​of Sibneft's share capital minus one share for $3 billion. In addition, the parties agreed to exchange Millhouse Capital's 72% of Sibneft shares for 26.01% of YukosSibneft shares. On August 15, 2003, the Russian Ministry of Antimonopoly Policy approved the merger of YUKOS and Sibneft.
Taking into account the negative experience of the previous attempt to merge YUKOS and Sibneft (creation of YUKSI), the parties agreed that in case of refusal to complete the transaction, the party that failed to fulfill its obligations would pay compensation in the amount of $1 billion.
The merger of YUKOS and Sibneft led to the emergence of a company that became the absolute leader of the Russian oil industry and ranked fourth in terms of oil production among non-state companies in the world.

In the fall of 2003, YUKOS and Sibneft completed a merger deal, as a result of which YUKOS received 92% of Sibneft shares from Millhouse Capital. The deal was carried out in three stages: YUKOS bought 20% of the shares for $3 billion, received 57.5% in exchange for 17.2% of its shares of an additional issue, and exchanged another 14.5% for 8.8% of its own shares held by on the company's balance sheet.

On November 28, 2003, at a meeting of YUKOS shareholders, it was announced that the process of merging YUKOS and Sibneft would be terminated. The initiative to terminate the deal came from Sibneft shareholders. During the time that has passed since the conclusion of the deal, the position of YUKOS has significantly worsened due to a conflict with government agencies of the Russian Federation. Sibneft shareholders expressed their intention to abandon the merger with YUKOS in order to minimize the negative impact on the assets they own.
During the negotiations, the shareholders of YUKOS and Sibneft agreed to carry out a “mirror” transaction, which will allow them to return to the original state: YUKOS will return the shares they owned to the shareholders of Sibneft, and they, in turn, will transfer to YUKOS 26 .01% of its shares and $3 billion. The parties also agreed that Sibneft will not pay compensation in the amount of $1 billion provided for refusal to fulfill the terms of the deal. According to Yu. Beilin, this compensation was provided for by the terms of the deal, which was completed in October 2003. “There are no claims against Sibneft within the framework of that transaction,” he noted.

On October 7, 2004, YUKOS returned 57.5% of Sibneft shares to the previous owner, the management company Millhouse Capital. After the transfer of this package, Yukos retained 37.2% of Sibneft shares.

In mid-July 2005, YUKOS returned 14.5% of Sibneft shares to Millhouse Capital. Yukos still owns 20% of the shares of Sibneft, which it acquired for $3 billion during the merger of the companies.

November Gas Energy Company
At the beginning of January 2003, AK SIBUR OJSC and Sibneft OJSC signed a memorandum on the creation of a joint venture, Noyabrsk Gas Energy Company CJSC, based on the Muravlenkovsky Gas Processing Plant. SIBUR's share in the authorized capital of the joint venture was to be 51%, the share " Sibneft - 49%. SIBUR's contribution to the authorized capital of the joint venture is presented in the form of the property complex of the Muravlenkovsky Gas Processing Plant; Sibneft intended to contribute funds to the authorized capital, which were to be used for the construction of a gas turbine power plant. The creation of the Noyabrsk Gas Energy Company was suspended due to the merger of Yukos and Sibneft. The implementation of the project to build a gas turbine power plant at the Muravlenkovsky gas processing plant was resumed only after the controlling stake in Sibneft was sold to Gazprom.

Development of a sales network (St. Petersburg)
In 2003, NK Sibneft established a 100% subsidiary, Sibneft-St. Petersburg. The goal of the new enterprise is to create and develop a sales network in St. Petersburg. Previously, there were no Sibneft gas stations in the city. In 2001-2002, Sibneft attempted to enter the fuel market of St. Petersburg through the purchase of the local operator Phaeton, but this deal did not take place.

Consolidation of ZAO Archinskoye and LLC Shinginskoye
In the spring of 2004, NK Sibneft announced an increase in the ownership share to 100% in the authorized capitals of Archinskoye CJSC and Shinginskoye LLC. Archinskoye CJSC holds licenses for the search, exploration and production of hydrocarbons at the Archinskoye and Urmanskoye fields, Shinginskoye LLC has a package of licenses for the development of the Shinginskoye field. The deposits are located in the Parabelsky district of the Tomsk region. “The development of fields in the Tomsk region corresponds to our strategy aimed at expanding the geography of our activities,” said Sibneft President Evgeny Shvidler. “The proximity to the West Krapivinskoye field contributes to the creation of a single oil production complex of the company in the south of Western Siberia.”

Expansion of the resource base
In March 2005, NK Sibneft won an open auction for the right to develop the Salymsky-2 and Salymsky-3 oil fields in the Khanty-Mansiysk Autonomous Okrug. The total recoverable reserves of these areas are 49.4 million tons of oil. The Salymsky-3 license area with recoverable oil reserves of 23.4 million tons was purchased for 200.3 million rubles, Salymsky-2 with recoverable oil reserves of 25.9 million tons was purchased for 342.8 million rubles.

In May 2005, Sibneft acquired a license for the Srednetaimurinsky site in the Krasnoyarsk Territory. The cost of the license is 27.5 million rubles.
The volume of geological resources of the site is 166.9 million tons of oil and 429.7 billion cubic meters. m of natural gas. The license for the Srednetaimurinsky site was the first for Sibneft in Eastern Siberia.

On July 1, 2005, OJSC Sibneft was recognized as the winner of an open auction for the right to explore and produce hydrocarbons in the Tympuchikansky area (Republic of Sakha).
The volume of recoverable reserves of the Tympuchikansky area under category C1+C2 is 16.9 million tons of oil and 13.4 billion cubic meters. m of natural gas. The company paid 440 million rubles for a license to develop the site.

In September 2005, Sibneft Oil Company won the auction for the right to explore and produce hydrocarbons in the Khotogo-Murbaysky area in the Republic of Sakha (Yakutia). The company paid 8.8 million rubles for a license to develop the site.
The volume of recoverable reserves of the site in category C1+C2 is 10.6 billion cubic meters. m of natural gas. This purchase became Sibneft's second acquisition in Yakutia after the purchase of a license for the Tympuchikansky area.

In the fall of 2005, the Sibneft-Vostok division was created to operate as an operator in the Omsk and Tomsk regions, as well as regions of Eastern Siberia.
On December 20, 2005, Sibneft-Vostok won an auction for the right to develop the Elleysky oil area in the Tomsk region. The licensed area was purchased for 294 million rubles, which was 2 times the starting price. The license agreement, concluded for 25 years, involves geological study, exploration and production of hydrocarbons.
Oil reserves in the area according to category C1: geological - 1.34 million tons, recoverable - 0.47 million tons, prospective resources of category C3: geological - 21.48 million tons, recoverable - 7.74 million tons, predicted recoverable resources of category D1 +D2 - 47.24 million tons.

Sibneft-Khantos
In April 2005, Sibneft-Khantos LLC was created. It included the Priobsky and Palyanovsky territorial oil production projects. The main objective of the enterprise is the development of fields in the Khanty-Mansi Autonomous Okrug and the Tyumen region: Priobskoye, Palyanovskoye and Zimney, as well as a group of Salym sites (Salym-2, Salym-3, Salym-5).

Reconstruction of the Omsk Oil Refinery
In September 2005, the reconstruction of the L-35-11/1000 catalytic reforming unit with a hydrotreating unit was completed. The installation produces a high-octane component of gasoline with an octane number of up to 102. The plant's raw material capacity is 1 million tons per year.
Construction of the installation began in February 1996. From 1998 to 2000, work was suspended due to the financial crisis in Russia. Initially, it was planned to reconstruct only the reforming unit, but it was decided to also replace the hydrotreating unit.

Lopukhovsky block
In 2005, Sibneft bought 75% of TNK-Sakhalin LLC from TNK-BP. The main asset of this enterprise is the license to develop the Lopukhovsky block.
The Lopukhovsky block is located on the shallow shelf of Sakhalin between the fields included in the Sakhalin-4 and Sakhalin-5 projects. The area of ​​the site is 3.5 thousand square meters. km, the block's forecast reserves are estimated at 130 million tons of oil and 500 billion cubic meters. m of gas. The results of seismic exploration carried out in 2003-2004 by TNK-BP specialists showed the low prospects of the block.

EPetrol
In March 2006, Sibneft signed an agreement with RK-Gazsetservis, under which the company purchased 14 multifunctional gas filling complexes in the Moscow and Tver regions operating under the EPetrol brand. The purchased filling stations have equipment that allows for the sale of natural gas motor fuel. Previously, Sibneft was not present on the gas fuel market.

Gazprom Neft
On September 28, 2005, Gazprom OJSC and Millhouse Capital signed documents to acquire a 72.7% stake in Sibneft OJSC. The transaction amount was $13.09 billion.
Previously, Gazprom bought a 3% stake in Sibneft from Gazprombank. Thus, Gazprom gained control over 75.7% of the shares of OAO Sibneft.

On December 23, 2005, an extraordinary meeting of shareholders of OAO Sibneft took place. Shareholders elected a new president of the company, who became Deputy Chairman of the Board of Gazprom Alexander Ryazanov. The meeting also elected a new board of directors. None of the former board members retained their seat on the board. Instead, 7 representatives of Gazprom were elected to the new board of directors, led by Chairman of the Board of Gazprom Alexey Miller and 2 representatives of YUKOS.
The shareholders meeting also changed the auditor. Instead of Ernst & Young, Gazprom's permanent auditor PriceWaterhouseCoopers was elected as Sibneft's auditor.

On May 13, 2006, an extraordinary meeting of shareholders of OJSC Sibneft was held, at which it was decided to change the name of the company to Gazprom Neft. The company also changed its registration address - from Omsk to St. Petersburg.

The continuation of the company's history is on the page entitled "Gazprom Neft".

Update: October 2008