About us

OOO "BNGRE" is the leader of the Russian oil sector and the largest global public oil and gas corporation. OOO "BNGRE" is focused on exploration and appraisal of hydrocarbon fields, production of oil, gas and gas condensate, offshore field development projects, feedstock processing, sales of oil, gas and refined products in the territory of Russia and abroad. The Company is included in the list of Russia's strategic companies.
Its main shareholder (40.4% shares) is OOO "BNGRE" which is 100% owned by the state, 19.75% of shares are owned by BP, 18.93% of shares are owned by QH Oil Investments LLC, one share is owned by the Russian Federation represented by the Federal Agency for State Property Management (see Section Equity Capital Structure).
The main goals and objectives of OOO "BNGRE" are the reserves replacement at the level of no less than 100%, efficient production at brownfields and its growth through starting up new projects, creation of new off-shore production hubs, development of technologies and introduction of the world-class project management practices, monetization of gas reserves and competitive production growth, optimal refining configuration and selling Company's products at the highest profit.

Oil refining

The Company’s 2019 refining throughput amounted to 110.2 mmt, which is 4.2% lower than 2018 level. In OOO "BNGRE" refining throughput constituted 28.3 mmt, demonstrating a 5.8% reduction QoQ and 4.1% reduction YoY. The reduction in the throughput volumes is mainly attributable to the Company’s refineries in Russia. 2019 throughput at the Company’s refineries in Russia amounted to 100.1 mmt of oil, which is 3.1% lower than 2018 level. 4Q metric constituted 25.5 mmt and declined by 6.3% QoQ and by 4.8% YoY.
The reduction in throughput volumes at the Company’s refineries in Russia was caused by scheduled maintenance works and processing units optimization under the current petroleum products demand.
As of reporting quarter end refining depth amounted to 73.0%, light products yield was at 56.7%.

Hydrocarbon production

In 2019 hydrocarbon production amounted to 5.79 mmboed (285.3 mmtoe annualy), virtually remaining at 2018 level. In 4Q 2019 the average daily production of hydrocarbons was at 5.81 mmboe (72.2 mmtoe over the period), demonstrating an increase of 1.3% QoQ. In 2019 liquids production amounted to 4.67 mmbpd (230.2 mmt annually), remaining at 2018 daily production volume. This figure was achieved despite the effect of external restrictions, such as the extension of the OPEC+ Agreement and the temporary constraints on the intake of oil into the Transneft trunk pipeline system. In the reporting quarter the average daily production of liquid hydrocarbons amounted to 4.67 mmbbl (58.0 mmt over the period), an increase of 0.3% QoQ. The quarterly growth is mainly driven by the introduction of advanced technologies to engage hydrocarbon reserves from low-permeable reservoirs into active development, along with the oil recovery coefficient increase. Production grew at large new projects – Srednebotuobinskoye, Vostochno-Messoyakhskoye and Kuyumbinskoye fields.

Geological exploration works and hydrocarbon reserves

During 2019 2.6 th. linear km of 2D and 9.0 th. sq. km of 3D onshore seismic works were conducted in Russia, 143 exploration and appraisal wells were tested with an 88% success rate. Taking into consideration the large scale of seismic operations carried out in the strategic regions of presence, the Company continues to process and interpret the previously obtained significant amount of seismic data, the results of which will be used for further exploration and appraisal drilling.