Gazprom Neft Increased its Financial Performance
OREANDA-NEWS. Gazprom Neft's revenue for the 6 months of 2019 under IFRS amounted to 1 trillion 215 billion rubles, the indicator grew by 6.8% compared to the same period last year.
"The growth of the company's operating cash flow ensured the receipt of positive free cash flow in the first half of 2019 in the amount of 125.2 billion rubles," the company said.
In the exploration and production segment, investments grew by 11.7% due to an increase in drilling and geological and technical measures, including at mature fields, Prirazlomnoye and Palyanovskoye fields. And also due to the construction of infrastructure at new fields (Tazovskoye and Novoportovskoye fields, oil rim projects). In the field of processing, the company invested 47.8% more. The main reason was the increase in costs at the Omsk Oil Refinery in connection with the implementation of deep processing projects.