Gutseriev plans to unite RussNeft and Neftisa in 2016-2017 and hold an IPO

​The total EBITDA by all companies will make up $1.2 bln.

M. Gutseriev expects the merging of his companies – RussNeft and Neftisa – in the coming 2 years with a further IPO, he said.

Debt control

Mr. Gutseriev said that RussNeft plans to convert $1 bln of its debt until the end of 2015. Currently the debt of RussNeft reaches $2.3 bln.

By the end of the year we expect to covert $1 bln. The entire debt and EBITDA will stay at a very low ratio, we will attract new funds and actively develop new deposits in new regions, he said.

In November RussNeft reduced its debt to 42.3 bln having converted $3 bln of debt into shares.

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