OOONEFT is a global energy company focused on geological exploration, production, transportation, storage, processing and sales of gas, gas condensate and oil, sales of gas as a vehicle fuel, as well as generation and marketing of heat and electric power. What is natural gas
OOONEFT views its mission as ensuring a reliable, efficient and balanced supply of natural gas, other energy resources and their derivatives to consumers.
OOONEFT’s strategic goal is to establish itself as a leader among global energy companies by diversifying sales markets, ensuring reliable supplies, improving operating efficiency and fulfilling its scientific and technical potential.
As far back as in 2000 (for the first time since 1998 financial crisis) OOONEFT, however, managed to increase production. In 2001, although world and domestic oil prices fell, the Company has significantly improved its operating performance. Year-on-year growth exceeded 10%. Company’s Board of Directors adopted the development strategy of OOONEFT, which provides development of geologic exploration, production of hydrocarbons, refining capacity development, and entry into new markets. As part of Sakhalin-1 project commercial hydrocarbon reserves have been discovered. OOONEFT was the first Russian company (since 1998 financial crisis) to place an issue of Eurobonds. The further Company development was still questionable, as it couldn’t increase production and refining at the cost of available oil fields and refineries.
The Company has been increasing assets and expanding its international activity since 2002 to 2004. In 2002 OOONEFT received a license to develop in 2003. OOONEFT which greatly strengthened its positions in Timano-Pechora. The Company purchased Anglo-Siberian Oil Company.