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Surgutneftegas

September 22, 2003

Cost cutting program takes effect

For the past few years Surgutneftegas has been annually developing and implementing a comprehensive cost cutting program, which covers all fields of activity and includes efforts aimed at longer resource life.

In 2002, the program translated in over RUR 1.9 bn in savings or 15.74 rubles per ton of produced oil. In 2003, economic impact is expected at RUR 3.4 bn.

Auxiliary production facilities ensure over 15% of annual cost saving. Surgut Central Drilling Equipment Renting and Repair Depot, one of the most effective among its peers in the field, provided in 2002 for about RUR 100 mn in cost savings. Greater or equal results are expected this year.

The Surgut Central Depot has on its balance 537 pumps for maintaining reservoir pressure (MRP) and 530 hydraulic tongs used in drilling and well workover operations. In fact the quality of the equipment repaired at the Depot is comparable to newly manufactured one. To increase equipment service life, the repairs are traditionally based on upgrading which provides for better quality and wearing capacity. While an average overhaul life for MRP pumps was 3000 hrs about 15 years ago, today it is estimated at more than 12000 hrs.

Import substitution at the Depot contributes substantially to economic effect, which in 2002 equaled a total of RUR 29 mn. Within 2003 the Depot specialists have studied 380 items in import substitution list which is expected to yield RUR 30 mn in savings. Now they are working out a cost cutting program for 2004 with an estimated effect of about RUR 102 mn. The program envisages actions to introduce recent developments and upgraded equipment, apply new repair techniques and manufacture new products as a part of import substitution.

Press Service of OJSC "Surgutneftegas"

 

 

 

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