Capital Investments

Capital investments, mn RUB
2013 2014 Change, %
Exploration and production 144,035 192,739 33.8
Subsidiaries 132,178 178,330 34.9
Proportionately consolidated companies 11,857 14,409 21.5
Oil refining 27,264 26,765 –1.8
Marketing and sales 17,523 13,576 –22.5
Other 6,151 10,731 74.5
CAPITAL INVESTMENTS SUBTOTAL 194,973 243,811 25.0
Changes in the amount of advances issued and capital construction materials 13,638 27,519 101.8
TOTAL CAPITAL INVESTMENTS 208,611 271,330 30.1

Total capital investments grew by 30.1% in the reporting year from 208.6 bn to 271.3 bn RUB.

A 33.8% year-on-year increase in capital investments in the exploration and production segment was primarily due to:

  • the development of fields in the Noyabrsk and Orenburg Region;
  • drilling at the Priobskoye field;
  • the active construction of major infrastructure facilities at the Novoportovskoye field (Arctic terminal, oil gathering system and pressure-based oil pipeline);
  • capital expenditures on the recently acquired fields: Dolginskoye (Q3 2013) and Prirazlomnoye (Q2 2014).