Gazprom is the world’s sixth largest energy company

Gazprom has become the sixth largest energy company in the world reaching this place in the US-based Platt’s energy industry information agency’s rating, overtaking BP and ShevronTexaco Corp.

The rating is based on the analysis of the annual assets, revenues, turnover and income of a company for the previous year. The 2002 rating was based on 2001. ExxonMobil Corp. is the world’s largest energy company, with assets of US$143 billion, revenues of US$187.5 billion. Royal Dutch/Shell is in the second place, French TotalFinaElf in the third, Italian ENI in the forth, French ElfAquitaine in the fifth, Brasilian Petrobras in the seventh, Great Britain’s BP in the eighth, US’s ShevronTexaco in the ninth, and PRC’c Petrochina in the tenth place.

US-based Platt’s rating agency published the 250 world’s largest energy companies roster. Gazprom is in the sixth place, up from the tenth a year earlier.

The significant rating change is based on production and financial performance improvement in 2002. The 2002 annual results are the best in the past ten-year period. Gross revenues reached US$26.7 billion (a 2% increase over forecast), production unit cost decreased by 3.5% (compared to forecast). Gazprom consolidated net profit was RUR108.7 billion.

In 2002, for the first time in the last four years, Gazprom natural gas production increased by 9.9 billion cubic meters, reaching 521.9 billion cubic meters. Taking into consideration gas production decrease resulting from existing natural gas deposits depletion, the actual production increase was 35 billion cubic meters. According to 2003 plan, Gazprom will produce 531.7 billion cubic meters of natural gas. Exports will increase from 129 to 134 billion cubic meters.

Last year, Gazprom hydrocarbon resource base increased by 535.9 million tons of oil equivalent, and this is a ten-year period record figure. For the first time, explored natural gas reserves volumes surpassed annual production volume. Yamburggazdobycha, one of the main gas producing companies within Gazprom, accounts for half of this increase.

Yamal peninsula natural gas deposits development is in the company’s priority list. According to Gazprom estimates, Yamal deposits development will enable the company to produce 530 billion cubic meters of natural gas by 2020.

Information Directorate, OAO Gazprom