OREANDA-NEWS. Rosneft publishes consolidated IFRS financial statements for 9M 2013

Q3 2013 hydrocarbon production (including production of subsidiaries and proportionately consolidated entities, and the share in production by affiliates) increased by 2.0% and reached 4,884 th. boepd. Crude oil and liquids production has reached 4,193 th. boepd, gas production increased up to 10.82 bcm.

Oil production growth is mainly due to a successful implementation of the drilling program at Uvat and Vankor fields. Vankor retains the position of a leading greenfield in the Company's portfolio by demonstrating successful results of failure-free drilling performance and confidently progressing towards the objective of 70 mln t of cumulative crude oil production by the end of 2013. Three major greenfields - Vankor, Verkhnechonskoe and Uvat group of fields - account for nearly 19% of the Company's Q3 production. Creating a basis for future growth, Rosneft is accelerating its effort in getting new fields in West Siberia, East Siberia and Yamal-Nenets Autonomus District ready to be put on stream.

The Company is stabilizing production in brownfields making a more extensive use of new reservoir management technologies in its key assets. Orenburg is demonstrating high post-frack flow rates, Samara is successful in upper horizon recompletions. Horizontal drilling technologies with multi-stage hydrofracking are getting more and more widely used. The past 9 months have seen 84 such wells brought on stream, including 12 wells in the Yuganskneftegaz fields showing the average initial oil rate of over 150 tpd.

Q3 2013 gas production growth by 16.2% is primarily the result of Itera's assets consolidation. Organic volume growth has resulted from the newly commissioned compressor stations in Yugansnkneftegaz' Priobskoe and Pravdinskoe fields now being operated at design capacity.

The Company is consistently progressing its offshore projects development program. Thus, in September it won auctions for exploration and development licenses for the Amur-Limanskiy and Vosochno-Pribrezhny Blocks in the Sea of Okhotsk with the total potential resource in excess of 100 mln toe.

In Q3 2013, Rosneft processed 26.02 mln tons of crude at Russian and foreign refineries. The 10.2% growth of refining volumes is, among other things, due to the largest CDU in Russia having been launched at the Tuapse Refinery, which will enable the Company to continue increasing refining volumes in the future. Higher refining volumes have led to increasing supplies of high-quality motor fuel to satisfy the growing domestic market demand.