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OJSC Severneftegazprom published the audited financial statements for 2019 prepared in accordance with the IFRS

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OJSC Severneftegazprom issued the audited annual Financial Statements for 2019 prepared in accordance with the International Financial Reporting Standards (hereinafter - IFRS) and an independent Audit Report in Russian and English languages.

The comprehensive income of OJSC Severneftegazprom for 2019 under IFRS, based on the results of financial and economic activities, amounted to RUB 4,513 million.

Revenue from gas sales for the reporting period amounted to RUB 51,742 million. The increase in revenues from gas sales in 2019 by RUB 4,002 million, or 8.4% in comparison with the same period of the last year, is due to the increase in the gas price, determined by the formula in accordance with the Shareholders Agreement and gas supply contracts.

The cost of sales of commercial gas for the reporting period amounted to RUB 42,669 million, which is lower than the same indicator in 2018 by RUB 283 million or 0.7%. Compared to the same period of the last year, the decrease was caused by the decline in mineral extraction tax (MET) by RUB 2,792 million or by 8.3%.

In accordance with the schedule of the exploration and development of the Yuzhno-Russkoye oil and gas field in 2019, the building of production facilities was completed and put into operation, which supports the annual level of production in the amount of 25 bln m3 to fulfill the contractual obligations of gas realization. The cost of PPE put into operation in 2019 were RUB 5,335 million.

Full version of Financial Statements for 2019 prepared in accordance with IFRS is available at: 

http://en.severneftegazprom.com/shareholders/disclosure/reports/

 2020 OJSC Severneftegazprom