"Востокгазпром" увеличил дивиденды за 2010 год на 67%

It was decided at the annual meeting of the shareholders of OAO Vostokgazprom (Gazprom’s subsidiary) to pay out 392,792,000 rubles in dividends, which is 67% more than in 2009, the company’s news say.

According to the news statement, «the dividends were paid out in the amount of 172.58 rubles per one ordinary share of OAO Vostokgazprom with par value 1,000 rubles, which is 69.33 rubles or 67% higher than the amount paid out in 2009. In total, the company paid out in dividends 392,792,000 rubles. The company has kept its retained earnings.»

In 2010, the company’s IFRS net profits increased by 70% up to 3.9bn rubles.
The shareholders also approved the 2010 annual report and financial statements, elected new members to the board, and audit commission, and elected ZAO KPMG as auditor.

Background

Vostokgazprom, OAO (open joint stock company) is a subsidiary of OAO Gazprom and the largest oil producer in Tomsk Region incorporated in 1999. The company has extracted over 30 billion cu.m of gas and over 3 million tons of gas condensate. In 2009, with the start of Kazansky oil and gas condensate field the company started commercial oil production.

In 2010, the company reduced its gas extraction volumes by 1% to 2.857 billion cu.m. and doubled production of liquid hydrocarbons, including oil and condensate, up to 982,000 tons. Investment commitments totaled 5.4bn rubles. In 2010, the company increased its net profits by 70% up to 3.9bn rubles. In 2011, Vostokgazprom plans to increase gas production by 9%, oil production by 22.7%, and investments by 16.7%.
Gazprom’s share in the company’s share capital is 99.98%.

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• July
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