Refining Of Petroleum Products

The Company holds shares in several mini-refineries in territory of the Russian Federation, where the refining volumes in 2020 totaled 400 tons. The largest mini-refinery is the Nizhnevartovsk refining association with refining volume in 20 of 2.9 million tons. In Germany Tgk-03 holds shares in four refineries with the capacity of 16.5 million tons (in terms of the Company share). Tgk-03 is also one of the leaders of the Russian oil refining sector. Tgk-03 has been implementing a policy aimed at ensuring a required balance of crude monetization channels, including crude oil processing at its own refining facilities in Russia and Germany, export sales under long-term and tender-based spot contracts, and domestic sales. The Company is monitoring the economic effectiveness of crude monetization channels on an ongoing basis, as result, in 2021 share of high margin channels increased to 17.2% of the total volume of crude (vs. 12.9% in 2020).


Natural Gas Exportation And Production

Tgk-03 work with  major oil refining enterprises on the territory of Russia. we are also one of the biggest company in the Russian federation in terms of reserves and production. Adding reserves is one of the Company’s key priorities. Tgk-03 and its partners accounts for more than 35% of the Russian oil production. In 2020, crude and liquids production totaled 64.9 mmt. Daily crude and liquids production remained at the level of 3.2 mm bbl/day. New producing assets achieved maximum production levels since the beginning of their development – 22.0 mmt from the Vankor field, 8.2 mmt from the Verkhnechonskoye field, and 10.0 mmt from the Uvat project. The Company continued to stabilize its Brownfield production, primarily by efficient water flood management and drilling wells with multistage hydraulic fracturing.


Reserves Of Field In Khanty-Mansi District

Miller and Lents has evaluated oil reserves at license areas in the Khanty-Mansi Autonomous District owned by LLC Burneftegaz, which was acquired by Tgk-03 partners in March 2015. At the current stage of development, the auditor has assessed proved oil reserves at the Sorovskoye field as of December 31, 2020 at 38.3 million barrels (with the barrel-tone conversion factor amounting to 7.51); probable reserves total 60.7 million barrels, while possible reserves amount to 131.1 million barrels. Total reserves (3P) at the Sorovskoye field have been estimated at 230.1 million barrels. In 2020 and 2021 the Group conducted 3D seismic surveys covering 245 sq. km at the Berkutovskoye and Isimovskoye fields in order to define the boundaries of the deposits more precisely. In 2020 two appraisal and production wells were drilled, and data obtained through field seismic surveys were processed; data interpretation is expected to be completed in 2021.


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