Gazprom neft Releases 1H 2006 Consolidated Financial Results

Gazprom neft Releases 1H 2006 Consolidated Financial Results

Moscow, October 3, 2006. According to first half of 2006 consolidated US GAAP financial results released by the company today, in first half of 2006 OJSC Gazprom neft's revenues increased 77% up to $10.1 billion as compared with the same period of 2005.

Earnings before taxes, interest, depreciation and amortization (EBITDA) also rose 35% to $2,6 billion in the first half of 2006.

Gazprom neft has reached $1,8 billion net income in the first half of 2006, which is 26% higher than in the same period of 2005.

"Consolidated financial US GAAP results show the business with the present management and shareholders. In the first half of 2006 we exceeded our business-plan and we plan to increase our financial and operating activities every year", said Gazprom neft President Alexander Ryazanov.

Gazprom neft's 1H 2005 Key Financial Figures

(million dollars) 1H 2006 1H 2005
Total Revenues 10.123 5.728
EBITDA 2.624 1.944
Net income 1.793 1.422