Rosneft increased CAPEX by 20.3% to 154 bln roubles in Q1

In Q1 2016 Rosneft increased CAPEX by 20.3% to 154 bln roubles, in dollars this result increased by 5% to $2.1 bln, is said in Rosneft’s report under IAS.

The growth of CAPEX against Q1 2015 is explained by the increase of the drilling program and turning to the active stage of works on the development and preparation for the launch of the Suzun and Yurubcheno-Tokhoma deposits, expansion of works at the license sites of Rospan CJSC.

In Q1 2015 the CAPEX of the exploration and extraction segment made up 96 bln roubles, by 40.6% more than in Q1 2015. The growth of capital investment was due to the increase of operational drilling rates (+52% against Q1 2015) and development of new deposits.

The expenditure of the plants in Q1 2016 fell by 60.7% to 11 bln roubles, operational expenditure on hydrocarbons extraction grew by 0.4% to 68.3 bln roubles.

The volume of Rosneft’s capital investment in 2015 increased by 11.6% to 595 bln roubles.