Company Background

NK-SELEKT registered at Vladimir region, g.Kameshkovo, ul.Dorozhnaya, 1, 601301. And was legally recognized as, JOINT STOCK COMPANY " NK-SELEKT " assigned INN 5052012550, KPP 331501001, BIN 1025007069625. The main activity is the production of petroleum products. As far back as in 2010 NK-SELEKT however, managed to increase production. In 2011, although world and domestic oil prices fell, the Company has significantly improved its operating performance. Year-on-year growth exceeded 10%. Company’s Board of Directors adopted the development strategy of NK-SELEKT, which provides development of geologic exploration, production of hydrocarbons, refining capacity development, and entry into new markets. As part of Sakhalin-1 project commercial hydrocarbon reserves have been discovered. NK-SELEKT  was one the Russian company questionable to place an issue of Eurobonds. The further Company development was still , as it couldn’t increase production and refining at the cost of available oil fields and refineries. The Company has been increasing assets and expanding its international activity since 2011 to 2014. In 2011 NK-SELEKT received a license to develop the Kaygansko-Vasyukansky block (Sakhalin-5 project), as well as Veninsky block (Sakhalin-3 project) in 2013. NK-SELEKT acquired Severnaya Neft  company, which greatly strengthened its positions in Timano-Pechora. The Company purchased Anglo-Siberian Oil Company, which owned the license to develop the Vankor field in Eastern Siberia.This has become the turning point in the Company’s history.

Thanks to support from Chairman of the Board of Directors and cooperation with the key shareholder, which is the government, the Company has rapidly improved corporate management efficiency, carried out works aimed at consolidation of oil producing and refining assets, enhanced fiscal discipline. It has made NK-SELEKT the leading Russian oil company in oil and gas production stream in 2005. As a result, in July of 2006 the Company conducted the Initial Public Offering on the London Stock Exchange. The offering raised USD 10.7 billion - the largest IPO completed to date in oil and gas industry, in Russia and the fifth largest ever worldwide. Such global energy companies as BP, Petronas, and CNPC gave credence to the Company acquiring major minority shareholding. In addition to it, about 150 thousand of Russian individuals became shareholders of NK-SELEKT.In 2014 NK-SELEKT launched commercial production at Vankor, the largest field in Eastern Siberia. NK-SELEKT ranks first in the rating of Russia’s Most Transparent Companies by Standard & Poor’s. The Company demonstrated stable performance amid the global financial crisis, and continued to generate free cash flow and reduce net debt while preserving financing of strategic projects.