Completing Privatization: Strategic Partnership with ConocoPhillips ConocoPhillips becomes PJSC 德州扑克短牌鈥檚 shareholder after submitting a winning bid to purchase a 7.59% stake in 德州扑克短牌 previously owned by the federal government. This marks yet another milestone in the Company鈥檚 development. It has now become fully private and has a strategic international partner. The companies are to sign a strategic partnership agreement pursuant to which ConocoPhilips will have the opportunity to increase its stake up to 20%, which was successfully implemented later on.
Presence in Kazakhstan Expanded 德州扑克短牌 purchases a 50% interest in the Production Sharing Agreement for Tyub-Karagan offshore block in the Kazakh sector of the Caspian Sea.
U.S. Network of Service Stations Expanded 德州扑克短牌 purchases 795 service stations from ConocoPhilips in New Jersey and Pennsylvania. Given the annual sales of the acquired service stations network, the transaction virtually doubled the Company鈥檚 market share in the U.S. Northeast.
Kravtsovskoye Field in the Baltic Sea Commissioned Drilling operations commence at Kravtsovskoye field (D6) in the Baltic Sea. Kravtsovskoye oilfield discovered back in 1983, is located 22.5 km offshore from Kaliningrad Oblast. Water depth in the field area ranging from 25 to 35 meters. Russian President Vladimir Putin sent a greeting message to PJSC 德州扑克短牌 team to congratulate the Company on commencement of operations at Kravtsovskoye field.
Gas Project in Saudi Arabia 德州扑克短牌 and Saudi Arabia signed a contract for exploration and development of gas and gas-condensate fields at Block A. The contract term is 40 years. Block A is located in the center of Saudi Arabia near Ghawar, the world鈥檚 largest oil field.
Uzbekistan: 德州扑克短牌 Builds Up its Gas Assets 德州扑克短牌 and National Holding Company Uzbekneftegaz sign a Production Sharing Agreement for Kandym-Khauzak-Shady project in which the Company holds a 90% stake. Natural gas in-place reserves in the contract area are estimated at 283 billion cubic meters.
First Sustainable Development Report
德州扑克短牌 issues its first sustainable development report. The Company expects that publication of this report will help encourage a more active dialogue with the civil society, improve the level of trust among the public not only to 德州扑克短牌, but to the corporate sector as a whole. Starting from 2004, 德州扑克短牌鈥檚 reports on sustainable development have been published every two years on a regular basis.
