OREANDA-NEWS. November 18, 2011. At RAS, ITERA Oil and Gas Company revenue from gas and oil sales went up 48.5 percent within three quarters of 2011, if compared to the same period of last year, to Rub. 41.9 billion.

The growth of revenue is attributed to the increase by the Federal Agency on Tariffs of natural gas price and increased volume of gas sold. Within nine months of 2011, the Company had supplied consumers with 15.4 billion cu m of natural gas, out of which volume the Company produced 9.4 billion cu m.

Operating surplus of the Company was Rub. 7 billion in January-September of 2011.

The accounting reporting of ITERA Oil and Gas Company, LLC for the last nine months of 2011 is available at the Company’s corporate site: www.itera.ru.

ITERA Oil and Gas Company are one of the larger independent producers and sellers of natural gas in the Russian Federation. ITERA has been developing its natural gas production in the Yamalo-Nenetz Autonomous District since 1998. The Company has invested over USD  2 billion in development of the gas industry. ITERA was the first private company to commission gas fields in the North of Russia. ITERA has produced over 245 billion cu m of natural gas at the gas fields it had developed.