- Business
- Joint-stock company Slavneft-Megionneftegas (ticker: MFGS.ME) engages in the exploration, production, and sale of crude oil and natural gas primarily in the Khanty-Mansi Autonomous Okrug of Russia. The company operates through core activities including oil and gas field development; drilling of production and exploration wells; gathering, preparation, and transportation of hydrocarbons; and maintenance of oilfield infrastructure and equipment. Its products encompass crude oil marketed under brands such as Urals and Siberian Light, associated petroleum gas, and stable gas condensate, with services extending to geophysical surveys, reservoir engineering, and environmental monitoring.
Founded in 1995 and headquartered in Megion, Russia, Slavneft-Megionneftegas functions as a key upstream subsidiary within the Slavneft joint venture, equally owned by Rosneft and Gazprom Neft, serving major Russian refineries and export markets in Europe and Asia. The company maintains operations across Western Siberia, with production assets in the Megion, Pravdinsk, and Kholmogorskoye fields, targeting industrial consumers, energy traders, and international buyers. It emphasizes enhanced oil recovery techniques and digital technologies to optimize mature field output.
In recent developments, Slavneft-Megionneftegas reported a 5.2% increase in average daily hydrocarbon production to 28,800 barrels of oil equivalent in 2024, driven by new well commissioning and intensified infill drilling programs. The company launched a strategic partnership with Rosneft in late 2024 to implement advanced seismic imaging and AI-driven reservoir modeling across its license blocks, aiming to boost proven reserves by 10%. Additionally, it completed the acquisition of adjacent exploration acreage in the Surgut region in early 2025, alongside a RUB 12 billion funding round from parent entities to support sidetrack drilling and ESG-compliant infrastructure upgrades.