In 2018 the total income of Zarubezhneft amounted to 24 billion roubles, in 2019 it decreased to 6 billion. The company’s headquarters is located in Moscow. Zarubezhneft disposes assets in Bosnia and Herzegovina, Russia, Cuba, Egypt, Uzbekistan, Indonesia and Vietnam. Director General is Kudryashov Sergey, previously the Deputy Minister of Energy of Russia, supervising Russian oil & gas industry.
Zarubezhneft JSC was established in 1967 under the Ministry of Oil Industry of USSR to provide technical assistance to the USSR-friendly countries in establishing oil and other basic economic sectors. The only shareholder of Zarubezhneft JSC is the State represented by the Federal Agency for Administration of State Property.
In Soviet times Zarubezhneft implemented oil & gas projects in Algeria, Angola, Libya, Egypt and Nigeria. As for 2020, the company participates in exploration of 2 licensed blocks in Egypt and cooperates with the Gabon Oil Company. In April 2020 the MoC with Algerian state oil & gas company Sonatrach was announced.
Zarubezhneft has also shown interest for oil & gas projects in Angola, the Republic of Congo and South Sudan. At the Russia-Africa Summit in 2019 Sergey Kudryashov took part in the bilateral meetings of Vladimir Putin with the president of Egypt Abdel Fattah el-Sisi and the president of South Africa Cyril Ramaphosa. Sergey Kudryashov also held bilateral meetings with the Prime-Minister of Tanzania, Minister of Oil, Gas and Hydrocarbons of Gabon and Minister of Petroleum and Mining of South Sudan.
According to the company’s annual report 2020, Gabon and the Republic of Congo are priority countries for assets research.
In December 2019 in Cairo Zarubezhneft JCS, the Ministry of Petroleum and Mineral Resources of Egypt, Egyptian state Ganoub El Wadi Petroleum Holding Company and Pacific Oil Limited signed the PSA (production sharing agreement) for the licensed blocks SEREU (South East Ras El Ush) and…