OJSC Rosneft Oil Company, Company Intelligence Report


#43108

110pages

GlobalData

$ 1000

In Stock


OJSC Rosneft Oil Company (Rosneft) is one of the leading Russian integrated oil and gas companies. It is engaged in the exploration, development, production, and sale of oil and gas; refining of crude oil; and transportation and sale of petroleum products. The company is also involved in production of petroleum products and petrochemicals, and carries related marketing activities. Rosneft participates in various energy projects in the South and North of European Russia, Siberia, Russias Far East, as well in Kazakhstan and Algeria.

Scope
  • Key Highlights: This section provides detailed analysis on the companys overall oil and gas value chain, new projects, growth opportunities, new ventures, assets performance, hedging strategies, Capex funding, geographical results of oil and gas operations.
  • Goals and Strategies: This section provides the upcoming goals and strategies of the company. The section mainly goals and strategies followed by the company in order to meet its upcoming goals.
  • SWOT: The reports SWOT section provides the internal strength, weakness, opportunities and threats of company to reflect its strategic positions in the market.
  • Key Events for 2011: This section provides the companys expected operational and financial activities in 2011. This section maps the companys focus for 2011 in nut shell.
  • Production and Development Overview: This section highlights the companys crude oil and natural gas production forecast from its legacy and upcoming assets by region and commodity mix for next five years. The report also covers the detailed information and analysis on the companys producing and development assets.
  • Exploration: This section includes detailed explanation and analysis on the companys exploration assets resulted due to new discoveries, new drilling and other activities.
  • M&A trends: This section mainly provides information and analysis on the companys recent assets transactions, joint ventures, acquisition, and divestment activities during the last one year. This section highlights the companys status as a buyer or seller during the analyzed period.
  • Financial Forecast and Valuation: This section highlights the detailed financial statement forecast for next five years. With the financial statement forecast, this section also provides intrinsic value of the company by using Net Asset Valuation method.
  • Peer Group Analysis: This section compares the companys performance with its peer group on the basis of share prices, financial ratios, operational and financial parameters and other related parameters.
  • Financial and Operational Metrics: This section covers the companys historical performance on several financial and operational parameters such as Production and Reserves, Reserves Replacement, Costs Incurred, Acreage, Wells, F&D Costs, Oil and Gas Revenue and Expenses etc.
Reasons to buy

The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to -
  • Provide detailed analysis to those who are interested in knowing the companies existing and future business strategies.
  • Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates.
  • Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies.
  • Use the analysis for strategy and planning, M&A identifications, and competitor analysis.
Table of Content:

1 Table of Contents

1 Table of Contents 3
1.1 List of Tables 5
1.2 List of Figures 6

2 OJSC Rosneft Oil Company, Company Overview 9

3 OJSC Rosneft Oil Company, Key Events for 2011 14

4 OJSC Rosneft Oil Company, Key Highlights 15
4.1 Vankorneft: Large Scale Development Activities and Capex Plans to Increase Production Volumes 15
4.2 Yuganskneftegaz: The Companys Largest Production Asset To Support Long Term Production Plans 17
4.3 Unsuccesful Attempt to Explore Arctic Region through BP deal; Still Exploring Other Strategic Alliance With Large Industry Players to Improve Long Term Growth Plans 17
4.4 Refinery Upgrades to Increase Capacity and Reduce Cost 19

5 OJSC Rosneft Oil Company, SWOT Analysis 20
5.1 Strength 20
5.1.1 Refinery Upgrade Operations to Increase Capacity and Refining Margins 20
5.1.2 Substantial Reserve Base and Reserve Life 20
5.1.3 Strong Internal Liquidity to Fulfill Capex Requirement 20
5.2 Weakness 21
5.2.1 Limited Geographical Reach 21
5.2.2 Unbalanced Commodity Mix 21
5.3 Opportunities 22
5.3.1 Strategic Alliance with Industry Players 22
5.3.2 Strengthening Refinery Operations to Reduce Cost and Increase Profitability 22
5.4 Threats 22
5.4.1 Failure to Effectively Execute JV 22

6 OJSC Rosneft Oil Company, Goals and Strategies 23
6.1 Form Strategic Alliances With Major Global Companies to Gain Technological Expertise 23
6.2 Focusing on Downstream Segment to Increase Refinery Capacity and Streamline Operations 23

7 OJSC Rosneft Oil Company, Production Overview 25
7.1 Production Profile 25
7.2 Russia 26
7.2.1 Western Siberia 27
7.2.2 Tomsk Region 28
7.2.3 Timan Pechora 28
7.2.4 Far East 28
7.2.5 Samara Region and the Republic of Udmurtia 28
7.2.6 Southern Federal District 28
7.2.7 Eastern Siberia 29
7.3 Costs Incurred 30

8 OJSC Rosneft Oil Company, Development Overview 32
8.1 Russia 33

9 OJSC Rosneft Oil Company, Exploration and M&A Highlights 34
9.1 Exploration 34
9.1.1 Western Siberia 35
9.1.2 Eastern Siberia 35
9.1.3 Far East 36
9.1.4 South of European Russia 37
9.1.5 International Projects 38
9.1.6 Joint Ventures 38
9.2 M&A Activity 39

10 OJSC Rosneft Oil Company, Downstream Updates 41
10.1 Refinery 41
10.2 Marketing 42
10.2.1 Crude Oil Sale 42
10.2.2 Petroleum Product Sales 42
10.2.3 Aircraft Refueling 43
10.2.4 Bunkering 43
10.2.5 Lubricant Sales 43

11 OJSC Rosneft Oil Company, Production and Financial Statements Forecast 45
11.1 Income Statement (20082015) 47
11.2 Balance Sheet (20082015) 48
11.3 Cash Flow Statement (20082015) 49
11.4 Financial Ratios 50

12 OJSC Rosneft Oil Company, Valuation 52

13 OJSC Rosneft Oil Company, Peer Comparision 55
13.1 Share Price Performance 55
13.2 Operational and Financial Performance 56
13.3 Key Financial and Operational Ratio 58

14 OJSC Rosneft Oil Company, Detailed Operational and Financial Metrics 60
14.1 OJSC Rosneft Oil Company, Quarterly Results of Oil & Gas Operations Per boe Produced 60
14.1.1 Results of Oil & Gas Operations Per boe Produced, Q1, 2010-Q1, 2011 60
14.1.2 Results of Oil & Gas Operations Per boe Growth Rates, Q1, 2010-Q1, 2011 61
14.2 OJSC Rosneft Oil Company, Quarterly E&P Costs Trends 62
14.2.1 Upstream Capital Expenditure, Q1, 2010-Q1, 2011 62
14.3 OJSC Rosneft Oil Company, Quarterly Production Trends 63
14.3.1 Total Crude Oil and Natural Gas Production Trend, Q1, 2010-Q1, 2011 63
14.3.2 Total Crude Oil & Natural Gas Production, By Country/Region, Q1, 2010-Q1, 2011 64
14.4 OJSC Rosneft Oil Company, Crude Oil Production 65
14.4.1 Total Crude Oil Production Trend, Q1, 2010-Q1, 2011 65
14.4.2 Crude Oil Production, By Country/Region, Q1, 2010-Q1, 2011 66
14.5 OJSC Rosneft Oil Company, Natural Gas Production 67
14.5.1 Total Natural Gas Production Trend, Q1, 2010-Q1, 2011 67
14.5.2 Natural Gas Production, By Country/Region, Q1, 2010-Q1, 2011 68
14.6 OJSC Rosneft Oil Company, Production and Reserves Trends 69
14.6.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 2006-2010 69
14.6.2 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2006-2010 71
14.6.3 Total Crude Oil and Natural Gas Reserve Changes, 2006-2010 73
14.7 Crude Oil/Liquids Production and Reserve 74
14.7.1 Crude Oil/Liquids Production and Reserve Trend, 2006-2010 74
14.7.2 Crude Oil Production and Reserves By Country/Region, 2006-2010 75
14.7.3 Crude Oil/Liquids Reserve Changes, 2006-2010 76
14.8 Natural Gas Production and Reserve 77
14.8.1 Natural Gas Production and Reserve Trend, 2006-2010 77
14.8.2 Natural Gas Production and Reserves, By Country/Region, 2006-2010 78
14.8.3 Natural Gas Reserve Changes, 2006-2010 79
14.9 Total Crude Oil and Natural Gas Reserves Life Index 80
14.9.1 Total Crude Oil and Natural Gas Reserves Life Index, 2006-2010 80
14.9.2 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2006-2010 81
14.10 OJSC Rosneft Oil Company, E&P Costs Trends 82
14.10.1 Upstream Capital Expenditure, 2006-2010 82
14.10.2 Acquisition Costs By Country/Region, 2006-2010 83
14.10.3 Exploration and Development Costs, By Country/Region, 2006-2010 85
14.11 Oil and Gas Cost Per boe, $/boe 87
14.11.1 Oil and Gas Cost Per boe, $/boe, 2006-2010 87
14.11.2 Oil and Gas Cost Per boe, $/boe, By Country/Region, 2006-2010 89
14.12 OJSC Rosneft Oil Company, Reserve Replacement Ratio 92
14.12.1 Oil and Gas Production Replacement Ratio, 2006-2010 92
14.12.2 Oil and Gas Production Replacement Ratio, By Country/Region, 2006-2010 93
14.13 OJSC Rosneft Oil Company, Results of Oil & Gas Operations Trend 95
14.13.1 Oil and Gas Revenue and Expenses, 2006-2010 95
14.13.2 Oil and Gas Revenue and Expenses, By Country/Region, 2006-2010 96
14.14 Oil and Gas Revenue and Expenses, Per boe 101
14.14.1 Oil and Gas Revenue and Expenses, By boe, 2006-2010 101
14.14.2 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2006-2010 102
14.15 Oil and Gas Performance Metrics 107

15 Appendix 108
15.1 Abbreviations 108
15.2 Methodology 108
15.2.1 Coverage 108
15.2.2 Secondary Research 108
15.2.3 Primary Research 109
15.2.4 Expert Panel Validation 109
15.3 Methodology for Company Valuation 109
15.4 Contact Us 110
15.5 Disclaimer 110
Table 1: OJSC Rosneft Oil Company, Key Events, 20102011 13
Table 2: OJSC Rosneft Oil Company, Key Units to be Completed After 2011 24
Table 3: OJSC Rosneft Oil Company, Upstream Production Profile, 20112015 29
Table 3: OJSC Rosneft Oil Company, Recent Transactions as a Buyer, 20092011 40
Table 4: OJSC Rosneft Oil Company, Recent Transactions as a Seller, 2011 40
Table 5: OJSC Rosneft Oil Company, Refineries capacity and Throughput (MMbbl), 2009 41
Table 6: OJSC Rosneft Oil Company, Downstream Operations, 20072009 41
Table 7: OJSC Rosneft Oil Company, Production Forecast, 20082015 45
Table 8: GlobalData, Commodity Price Forecasts, 2011-2015 45
Table 9: OJSC Rosneft Oil Company, Income Statement, $m, 20082015 47
Table 10: OJSC Rosneft Oil Company, Balance Sheet, $m, 20082015 48
Table 11: OJSC Rosneft Oil Company, Cash Flow Statement, $m, 20082015 49
Table 12: OJSC Rosneft Oil Company, Profitability Ratios, 20092015 50
Table 13: OJSC Rosneft Oil Company, Other Financial Ratios, 20082015 51
Table 14: GlobalData, Price Forecasts, 20112015 52
Table 15: OJSC Rosneft Oil Company, Net Asset Value, 2011 53
Table 16: OJSC Rosneft Oil Company, NPV of Oil/NGL Reserves, $/bbl, 2011 53
Table 17: OJSC Rosneft Oil Company, NPV of Natural Gas Reserves, $/Mcf, 2011 54
Table 18: OJSC Rosneft Oil Company, NPV OF Total Oil and Natural Gas Reserves , $/boe, 2011 54
Table 19: OJSC Rosneft Oil Company, Sensitivity Analysis on Fair Value ($ per share), 2011 54
Table 20: OJSC Rosneft Oil Company and Peer Group Comparison, Operational and Financial Performance, 2010 56
Table 21: OJSC Rosneft Oil Company and its Peer Group Comparison, Financial Ratios, 2010 58
Table 22: OJSC Rosneft Oil Company, Results of Oil & Gas Operations Per boe Produced, $/boe, Q1, 2010-Q1, 2011 60
Table 23: OJSC Rosneft Oil Company, Results of Oil & Gas Operations Per boe Growth Rates, %, Q1, 2010-Q1, 2011 61
Table 24: OJSC Rosneft Oil Company, Upstream Capital Expenditure, Q1, 2010-Q1, 2011 62
Table 25: OJSC Rosneft Oil Company, Total Crude Oil and Natural Gas, Production, Q1, 2010-Q1, 2011 63
Table 26: OJSC Rosneft Oil Company, Total Oil & Gas Production, By Country/Region, MMboe, Q1, 2010-Q1, 2011 64
Table 27: OJSC Rosneft Oil Company, Total Crude Oil Production, MMbbl, Q1, 2010-Q1, 2011 65
Table 28: OJSC Rosneft Oil Company, Crude Oil Production, By Country/Region, MMbbl, Q1, 2010-Q1, 2011 66
Table 29: OJSC Rosneft Oil Company, Total Natural Gas Production, Bcf, Q1, 2010-Q1, 2011 67
Table 30: OJSC Rosneft Oil Company, Natural Gas Production, By Country/Region, Bcf, Q1, 2010-Q1, 2011 68
Table 31: OJSC Rosneft Oil Company, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2006-2010 70
Table 32: OJSC Rosneft Oil Company, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, MMboe, 2006-2010 72
Table 33: OJSC Rosneft Oil Company, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2006-2010 73
Table 34: OJSC Rosneft Oil Company, Crude Oil Production and Reserves Metrics, MMbbl, 2006-2010 74
Table 35: OJSC Rosneft Oil Company, Crude Oil Production and Reserves, By Country/Region, MMbbl, 2006-2010 75
Table 36: OJSC Rosneft Oil Company, Crude Oil Reserve Changes, MMbbl, 2006-2010 76
Table 37: OJSC Rosneft Oil Company, Natural Gas Production and Reserves Metrics, Bcf, 2006-2010 77
Table 38: OJSC Rosneft Oil Company, Natural Gas Production and Reserves, By Country/Region, Bcf, 2006-2010 78
Table 39: OJSC Rosneft Oil Company, Natural Gas Reserve Changes, Bcf, 2006-2010 79
Table 40: OJSC Rosneft Oil Company, Oil and Gas Reserves Life Index, Years, 2006-2010 80
Table 41: OJSC Rosneft Oil Company, Oil and Gas Reserves Life Index, By Country/Region, Years, 2006-2010 81
Table 42: OJSC Rosneft Oil Company, Upstream Capital Expenditure, $m, 2006-2010 82
Table 43: OJSC Rosneft Oil Company, Proved and Unproved Acquisition Costs, By Country/Region, $m, 2006-2010 84
Table 44: OJSC Rosneft Oil Company, Exploration and Development Costs, By Country/Region, $m, 2006-2010 86
Table 45: OJSC Rosneft Oil Company, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2006-2010 88
Table 46: OJSC Rosneft Oil Company, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, By Country/Region, 2006-2010 91
Table 47: OJSC Rosneft Oil Company, Oil and Gas Production Replacement Ratio, %, 2006-2010 92
Table 48: OJSC Rosneft Oil Company, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2006-2010 94
Table 49: OJSC Rosneft Oil Company, Revenue and Expenses, $m, 2006-2010 95
Table 50: OJSC Rosneft Oil Company, Revenue and Expenses, By Country/Region, $m, 2006-2010 100
Table 51: OJSC Rosneft Oil Company, Oil and Gas Revenue and Expenses, $/boe, 2006-2010 101
Table 52: OJSC Rosneft Oil Company, Oil and Gas Revenue and Expenses, $/boe, By Country/Region, 2006-2010 106
Table 53: OJSC Rosneft Oil Company, Oil and Gas Performance Metrics, 2006-2010 107
Figure 1: OJSC Rosneft Oil Company, Operational Map, 2011 9
Figure 2: OJSC Rosneft Oil Company, Revenue and Operating Income by Segment, 2010 10
Figure 3: OJSC Rosneft Oil Company, Performance Charts, 20072010 11
Figure 4: OJSC Rosneft Oil Company, Share Price Performance, February 2010February 2011 13
Figure 5: OJSC Rosneft Oil Company, Vankor Field Production, (MMboe), 20082015 15
Figure 6: OJSC Rosneft Oil Company, South Kara Sea Operational Map, 2011 16
Figure 7: OJSC Rosneft Oil Company, South Kara Sea Operational Map, 2011 18
Figure 8: OJSC Rosneft Oil Company, West Chernomorsky block and Tuapse Trough Blocks Operational Map, 2011 18
Figure 9: OJSC Rosneft Oil Company, Internally Generated Cash Flow Comparison With its Capex (%), 20072010 21
Figure 10: OJSC Rosneft Oil Company Production from Legacy and Upcoming Assets, Mboe/d, 20082015 25
Figure 11: OJSC Rosneft Oil Company, Production Mix (%), 200720010 26
Figure 12: OJSC Rosneft Oil Company , Operation Overview, 2011 27
Figure 13: OJSC Rosneft Oil Company, Costs Incurred, $m, 20052009 30
Figure 14: OJSC Rosneft Oil Company, Reserve Replacement Ratio and Finding and Development Cost, 20062010 31
Figure 15: OJSC Rosneft Oil Company, Development Cost, $m, 20062009 32
Figure 16: OJSC Rosneft Oil Company, Exploration Cost, $m, 20052010 34
Figure 17: OJSC Rosneft Oil Company, Exploration Program in Eastern Siberia, 2011 35
Figure 18: OJSC Rosneft Oil Company, Exploration Program in Far East, 2011 37
Figure 19: OJSC Rosneft Oil Company, Exploration Program in South of European Russia, 2011 38
Figure 20: OJSC Rosneft Oil Company, Exploration Program in Russian Arctic Shelf, 2011 39
Figure 21: OJSC Rosneft Oil Company, Exploration Program in Black Sea, 2011 39
Figure 22: OJSC Rosneft Oil Company, Downstream Segment Revenue, Total Revenue and Downstream Revenue as % of Total Revenue, 20072010 44
Figure 23: OJSC Rosneft Oil Company and its peers, Relative Share Price Performance Index, May 2010June 2011 55
Figure 24: OJSC Rosneft Oil Company, F&D costs and Reserve Replacement Ratio, 2010 57
Figure 25: OJSC Rosneft Oil Company, Operational and Financial Parameters in $/boe, 2010 57
Figure 26: OJSC Rosneft Oil Company and Peer Group, Comparative Valuation Multiples, 2010 59
Figure 27: OJSC Rosneft Oil Company, Results of Oil & Gas Operations Per boe Produced, $/boe, Q1, 2010-Q1, 2011 60
Figure 28: OJSC Rosneft Oil Company, Upstream Capital Expenditure, $m, Q1, 2010-Q1, 2011 62
Figure 29: OJSC Rosneft Oil Company, Total Crude Oil and Natural Gas, Production, MMboe, Q1, 2010-Q1, 2011 63
Figure 30: OJSC Rosneft Oil Company, Total Oil & Gas Production, By Country/Region, MMboe, Q1, 2010-Q1, 2011 64
Figure 31: OJSC Rosneft Oil Company, Total Crude Oil Production, MMbbl, Q1, 2010-Q1, 2011 65
Figure 32: OJSC Rosneft Oil Company, Crude Oil Production, By Country/Region, MMbbl, Q1, 2010-Q1, 2011 66
Figure 33: OJSC Rosneft Oil Company, Total Natural Gas Production, Bcf, Q1, 2010-Q1, 2011 67
Figure 34: OJSC Rosneft Oil Company, Natural Gas Production, By Country/Region, Bcf, Q1, 2010-Q1, 2011 68
Figure 35: OJSC Rosneft Oil Company, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2006-2010 69
Figure 36: OJSC Rosneft Oil Company, Total Oil & Gas Reserves, End of Period, By Country/Region, MMboe, 2006-2010 71
Figure 37: OJSC Rosneft Oil Company, Total Oil & Gas Production, By Country/Region, MMboe, 2006-2010 71
Figure 38: OJSC Rosneft Oil Company, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2010 73
Figure 39: OJSC Rosneft Oil Company, Crude Oil Production and Reserves Metrics, MMbbl, 2006-2010 74
Figure 40: OJSC Rosneft Oil Company, Oil Production, By Country/Region, MMbbl, 2006-2010 75
Figure 41: OJSC Rosneft Oil Company, Crude Oil Reserve Changes, MMbbl, 2010 76
Figure 42: OJSC Rosneft Oil Company, Natural Gas Production and Reserves Metrics, Bcf, 2006-2010 77
Figure 43: OJSC Rosneft Oil Company, Gas Production, By Country/Region, Bcf, 2006-2010 78
Figure 44: OJSC Rosneft Oil Company, Natural Gas Reserve Changes, Bcf, 2010 79
Figure 45: OJSC Rosneft Oil Company, Oil and Gas Reserves Life Index, Years, 2006-2010 80
Figure 46: OJSC Rosneft Oil Company, Oil & Gas Reserve Life Index, By Country/Region, Ratio, 2006-2010 81
Figure 47: OJSC Rosneft Oil Company, Upstream Capital Expenditure, $m, 2006-2010 82
Figure 48: OJSC Rosneft Oil Company, Proved Acquisition Costs, By Country/Region, $m, 2006-2010 83
Figure 49: OJSC Rosneft Oil Company, Unproved Acquisition Costs, By Country/Region, $m, 2006-2010 83
Figure 50: OJSC Rosneft Oil Company, Development Costs, By Country/Region, $m, 2006-2010 85
Figure 51: OJSC Rosneft Oil Company, Exploration Costs, By Country/Region, $m, 2006-2010 85
Figure 52: OJSC Rosneft Oil Company, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2006-2010 87
Figure 53: OJSC Rosneft Oil Company, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, $/boe, 2006-2010 89
Figure 54: OJSC Rosneft Oil Company, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, $/boe, 2006-2010 89
Figure 55: OJSC Rosneft Oil Company, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, $/boe, 2006-2010 90
Figure 56: OJSC Rosneft Oil Company, Proved Reserves Acquisition Cost per boe, 3-Year Average, By Country/Region, $/boe, 2006-2010 90
Figure 57: OJSC Rosneft Oil Company, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2006-2010 92
Figure 58: OJSC Rosneft Oil Company, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2006-2010 93
Figure 59: OJSC Rosneft Oil Company, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2006-2010 93
Figure 60: OJSC Rosneft Oil Company, Revenue and Expenses, $m, 2006-2010 95
Figure 61: OJSC Rosneft Oil Company, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, $m, 2006-2010 96
Figure 62: OJSC Rosneft Oil Company, Exploration Expenses, By Country/Region, $m, 2006-2010 96
Figure 63: OJSC Rosneft Oil Company, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, $m, 2006-2010 97
Figure 64: OJSC Rosneft Oil Company, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, $m, 2006-2010 97
Figure 65: OJSC Rosneft Oil Company, Oil & Gas Revenue, By Country/Region, $m, 2006-2010 98
Figure 66: OJSC Rosneft Oil Company, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, $m, 2006-2010 98
Figure 67: OJSC Rosneft Oil Company, Production Costs, By Country/Region, $m, 2006-2010 99
Figure 68: OJSC Rosneft Oil Company, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, $m, 2006-2010 99
Figure 69: OJSC Rosneft Oil Company, Oil and Gas Revenue and Expenses, $/boe, 2006-2010 101
Figure 70: OJSC Rosneft Oil Company, Exploration Expenses per boe, By Country/Region, $/boe, 2006-2010 102
Figure 71: OJSC Rosneft Oil Company, Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2006-2010 102
Figure 72: OJSC Rosneft Oil Company, Lifting Cost per boe, By Country/Region, $/boe, 2006-2010 103
Figure 73: OJSC Rosneft Oil Company, Annual Net Income per boe, By Country/Region, $/boe, 2006-2010 103
Figure 74: OJSC Rosneft Oil Company, Oil & Gas Revenue per boe, By Country/Region, $/boe, 2006-2010 104
Figure 75: OJSC Rosneft Oil Company, Total DD&A per boe, By Country/Region, $/boe, 2006-2010 104
Figure 76: OJSC Rosneft Oil Company, Total Revenue per boe, By Country/Region, $/boe, 2006-2010 105
Figure 77: OJSC Rosneft Oil Company, Oil and Gas Performance Metrics, 2006-2010 107