| 2005-08-17 |
Îïóáëèêîâàíî: Regions. Ru |
ITERA Oil and Gas Company has improved the basic financial parameters in 2004 as compared to 2003, the report company reads. The report was prepared according to MSFO international financial reporting standard.
The ITERA revenue went up 21%, from USD 480.92 million to USD 581.94 million. The value of the company assets went up by 12.45% from USD 547.69 million to USD 615.88 million. Net profits increased 71.6 times from USD 618 thousand to USD 44.27 million.
According to information shared by the company, the material growth of its of MSFO net profit resulted from the fact that ITERA Oil and Gas Company started its activities only in the second half of 2002. Within 2003, the company consolidated its oil and gas assets, so the profit was mostly a non-operating gain. In 2004, the company’s profit resulted mainly from its core activities.
The ITERA Oil and Gas Company LLC core activity in Russia is gas deliveries to Sverdlovsk Region. In 2004, the company produced 14 billion cubic meters of gas. ITERA owns 49% shares with Purgaz (Gazprom owns the remainder 51%), and 66% share with OAO Sibneftegaz (Yamalo-Nenetz Autonomous District), which holds the development license for Beregovoye field, with 325 billion cubic meters of gas.
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