Open Joint-Stock Oil and Gas Company Slavneft (OAO NGK Slavneft) was established on August 26, 1994 under RF Government Ordinance No. 305 dated April 8, 1994 and Regulation of the Council of Ministers of the Republic of Belarus No. 589-р dated June 15, 1994. The key founders of Slavneft were the State Property Committee of the Russian Federation and the State Property Ministry of the Republic of Belarus with 86.3% and 7.2% of initial allocation in the Company's equity, respectively.
In November 2002, the RB Government sold the block of shares equal to 10.83% and held by the Republic of Belarus to Slavneft. On December 18, 2002, the Slavneft’s federally owned block of shares making 74.95% of the Company’s equity was sold at the auction in Moscow.
At present, the Company’s equity makes 4,754,238 rubles and is divided into 4,754,238,000 ordinary shares, with the nominal value of 0.1 kopeck each. 99.7% of the Slavneft’s shares are now controlled by TNK-BP and Gazprom Neft on a par.
To date, OAO NGK Slavneft is among the largest top ten oil companies of Russia. The Holding’s vertically integrated structure ensures the full production cycle – from exploration and hydrocarbon production to processing. Slavneft holds licenses for exploration and oil and gas production at 31 license areas located in West Siberia (Khanty-Mansi Autonomous Area – Yugra) and the Krasnoyarsk region.
The Company’s key oil production subsidiary is OAO Slavneft-Megionneftegaz (OAO SN-MNG). OAO SN-MNG operates at the Megionskoye, Aganskoye, Vatinskoye and other fields and monthly produces over 1.5 mln tons of hydrocarbons. The annual output of all Holding’s Subsidiaries exceeds 18 mln tons of oil.
The oil produced (excluding export crude) is delivered to OAO Slavneft-Yaroslavnefteorgsintez (OAO Slavneft-YaNOS) and OAO Mozyr Refinery where it is processed. The Company’s Processing Subsidiaries possess significant production capacities and state-of-the-art equipment that allow manufacturing high-quality products compliant with the international standards. The Slavneft’s Refineries annually process approximately 24 mln tons of hydrocarbons and produce 4.5 mln tons of motor gasoline.
The business strategy implemented by the Company is focused on ensuring sustainable development of oil production and processing capacities. At present, the Slavneft’s key targets are to stabilize the oil production rate, proceed with upgrading of processing units and with refining throughput increment, reorganize the business, develop the effective interaction pattern for the Holding’s Subsidiaries, decrease expenses and increase the units performance efficiency.
Shareholders owing at least 5% of OAO NGK Slavneft’s equity (as of October 05, 2011):
OOO Invest-Oil: 74.9570 %;
Stranberg Investments Limited: 11.5772 %;
Select Holdings Limited: 7.7037 %.