OREANDA-NEWS. December 10, 2012. According to RAS, the book value of assets of ITERA Oil and Gas Company, LLC, went up 110 per cent if compared to that of the preceding quarter to RuR 127.3 billion in the third quarter of 2012.

Growth of asset value resulted from the closing of transaction with OJSC NK Rosneft, within the framework of which Kynsko-Chaselskoeye Neftegaz, LLC, which owns a license to develop fields of the Kynsk-Chaselsk license area, was included in the balance of ITERA Oil and Gas Company, LLC. By this transaction, the added capital of ITERA Oil and Gas Company, LLC, increased from RuR 14.4 million (beginning of 2012) to RuR 85.4 billion.

The revenue of the Company in January-September of 2012 was RuR 41.5 billion, while the net profit went up by 18.9% to RuR 4.8 billion.

The financial statements of ITERA Oil and Gas Company, LLC, for the nine months of 2012 are available at the Company’s corporate site: www.itera.ru.

ITERA International Group of Companies is a vertically integrated holding with dozens of enterprises and companies in the NIS, Baltic States, Western Europe, Asia and the United States. From its inception in 1992, Itera’s main business activity has been natural gas. ITERA Oil and Gas Company, LLC, is a joint venture of OJSC NK Rosneft with a 51% stake, and Companies of ITERA International Group of Companies with a 49% shareholding, one of the largest independent producers and sellers of natural gas in Russia. The Company has been developing its own production of gas in the Yamalo-Nenets Autonomous District since 1998. The Company has invested over USD 2 billion in development of the gas industry. Overall, over 250 billion cubic meters of gas was produced in gas fields developed by Itera. The total volume of gas sold is about 600 billion cubic meters. Development, gas processing and power generations are among strategic businesses of the Group, too.