OREANDA-NEWS. April 24, 2012. ITERA Oil and Gas Company's RAS revenue from oil and gas sales for 2011 grew up by 46% as compared to the previous year reaching RUB 57.4 billion, reported the press-centre of ITERA.  

This revenue growth is due to the increase of natural gas prices by the Federal Tariffs Service and bigger gas sales volumes. In 2011, the Company supplied to its customers 21.4 bcm of gas out of which 13.1 bcm come from its own production.

ITERA's operating profit for 2011 is RUB 9.1 billion while its net profit for the year is RUB 5 billion.

ITERA Oil and Gas Company's financial statements for 2011 can be downloaded from the corporate site at www.itera.ru.

ITERA International Group of Companies (ITERA Group) is a vertically integrated holding company, established in 1992, which includes dozens of enterprises and companies in CIS, Baltic countries, Western Europe, Asia and the USA. Gas business is a core business of ITERA since 1994. ITERA Oil and Gas Company, a Group company, has been developing its own production of gas in the Yamalo-Nenets Autonomous District since 1998. It has invested over USD 2 billion into development of the gas industry. In aggregate, gas fields developed by ITERA produced over 250 billion cubic meters of natural gas, ITERA gas sales exceeded 600 billion cubic meters. Development, gas processing and power generation are also among strategic businesses of the Group.