OREANDA-NEWS. October 15, 2010. A working meeting of the president of JSC  NK “Russneft” Mikhail Gutseriev and the Governor of the Ulianovsk Region  Sergei Morozov has been held.  During the visit top managers of the Region and the holding  participation in the opening of the children’s play-sites constructed and equipped on the funds of JSC  NK “RussNeft”, visited the construction site of the Cathedral  of Ascension in the city of Ulianovsk

Within the frames of the meeting the Parties determined the proprities of further cooperation of the oil and gas holding and the region having underlined the significant contribution made by  NK “RussNeft” in solution of social and economic problems of the region. Thus, in the current year the Ulianovsk block of JSC  NK “RussNeft” is planning to increase hydrocarbon stock production  by 5% as compared with the analogous figure of the last year, the total extent of production will make 581,5 thousand tons of oil.      

The amount of capital investments of the Company into the Ulianovsk Region will reach in 2010 257.3 million rubles (+90% as compared with 2009), therewith 32 million rubles (+30% as compared with 2009) will be assigned for geophysical  works, in particular, for development of oilfields and implementation of the program of geological and engineering operations. 

In the current year social obligations of the groups of Ulianovsk Block within collective agreements will grew by 26%, the average wages will rise by 18%.

According to the president of NK "RussNeft" M. Gutseriev, the extent of production of the "RussNeft" block of enterprises in the Ulianovsk region by 2013 will have reached 1 million tons of oil per year. In the meanwhile the volume of investments in 2011 will increase 4 times and amount to 1 billion rubles. During the visit M. Gutseriev informed the head of the region  about his intention to assign in the current year 15 million rubles from his personal funds for soultion of social problems of the region.

NK “RussNeft” takes active part in implementation of social and charity programs at the territory of the region. Annually, starting from 2003  the Government of the region and the holding sign Agreements on mutual cooperation. In the current year the amount of financing of social and economic programs and charity projects of “RussNeft” will make 15 million rubles 

Within the frames  of social partnership with the region “RussNeft” has during 7 years  sponsored development of children’s and youth sports in the Ulianovsk Region, rendering financial support to the football club “Neftianik”, (Novospasskoye settltment). Financial support of the holding permitted to build and equip twenty play and sport sites in Ulianovsk, buy vouchers to children’s health camps for boys and girls from large and low-lived families of the region. 
The enterprises of the holding help to implement social programs at the districts where the Company’s oilfields are situated. With the Company’s help schools, kindergartens and hospitals in the Ulianovsk region are being repaired, there have been  built a mosque in Novospassky District and Church of Transfiguration in the settlement of Novospasskoye, Cathedral of Ascension in Ulianovsk is  under construction.