Resources, deposits and reserves.
"Noyabrskneftegas" stands in the 8th place in Russia according to the amount of prospected resources. At present on the territory of this company's activities 49 oil and gas fields are discovered, 45 of these are licensed, 15 are being exploited and 12 will be put into operation before 2000. The fields contain 212 deposits including 205 oil deposits.
The extractable reserves of the licensed fields are estimated at 625.2 million tons. The geological resources, at the valuations of specialists, vary from 3 500 to 6 500 million tons. This divergence is explained by the differences in evaluation methods and the absence of independent auditor. In 1997 the independent audit, carried out by the Miller & Lents firm was to clarify the situation.
The prospected reserves are sufficient to provide the company's production for 25-33 years. In any case it is higher than the average Russian level (22 years). The quality of oil, extracted by "Noyabrskneftegas", is better than the average in Russia, but this quality is typical for the oil fields of Western Siberia.
The prospects for development
The prospects for the development of every oil-and-gas extracting enterprise is usually depend on three factors: the resources basis development, the efficiency of supplies policy and the financial stability. As for the first aspect, "Noyabrskneftegas" has very good prospects comparing with other Russian oil companies. And, in spite of some financial difficulties, it is able to carry on the reproduction of the raw materials basis.
The resources' potential of "Noyabrskneftegas" oil fields is quite competitive, as more than half of them have not yet reached the maximum level of their extraction capacity. One of these oil fields - Sugmutsky - is considered to be one of the most productive fields in Western Siberia. In 1997 the company started the exploitation of Sporyshevsky oil field near the town of Noyabrsk. The proximity of the field to the industrial base will accelerate its development and save financial and material means. The company's activities in the second direction - the supplies network development - is also efficient.
The stabilization of company's finances may be seen from the process of its debts to the federal budget liquidation. After the solution of this problem "Noyabrskneftegas" will be able to claim one of the leading positions in the competitiveness rating of Russian oil and gas extracting enterprises. And the company has good prospects for succeeding in this task.