Company news in July 2004 | |||
Crude Oil Output Producing Favorable Impact on Living Standards in the Uvat District
The Economic News Agency informs that, thanks to oil extraction, the Uvat District has not received subsidies from the regional budget for several years already. Such statement was made by Mr. Yury Sviatskevich, Head of the Uvat District municipal entity at a news conference devoted to extraction of the 5 millionth ton of oil in this territory. The Uvat District was noted to be the only territory in the south of the region where intensive crude oil output is underway, and Tyumenneftegaz (TNK-BP''s subsidiary) is the only enterprise engaged in crude oil output. Due to the oilmen''s successful performance, the Uvat District is a leader in the Tyumen Region by a number of social indicators, in particular, in terms of average salary and housing construction per capita. Social sphere is being upgraded in the territory, and there are virtually no sub-standard social facilities in the region. In his turn, Mr. Andrey Khvan, Chief Engineer of Tyumenneftegaz, noted that, whereas the enterprise paid RUR 791 million in local budgets last year, it paid RUR 738 million during the first half of 2004. Total tax receipts under the Uvat Project in the applicable tax system will amount to RUR 45-50 billion over 20 years.
Source: Kapital Economic News Agency