Rosgeo
Owners:
Federal Agency for State Property Management (Federal Property Management Agency)
Content |
JSC Rosgeologia is a Russian multidisciplinary geological holding established in accordance with Presidential Decree of the Russian Federation No. 957 of July 15, 2011 in order to ensure integrated geological study of the subsoil and reproduction of the mineral resource base of the Russian Federation based on advanced geological, geophysical and geochemical technologies. The holding is included in the list of strategic joint-stock companies and has unique competencies that allow carrying out a full range of geological exploration work for all types of useful, minerals concentrating significant organizational, research and production and investment resources to comprehensively solve urgent problems of geological industry development.
Aktivs
JSC Rosgeologia includes 63 geological enterprises in eight federal districts of the country. During its operation, the holding's enterprises have opened more than 1000 fields, including the largest fields of hydrocarbon raw materials and solid useful, minerals such as Astrakhan (2.5 trillion m³ of gas), Tengiz (3.1 billion tons), oil Kovyktinskoye (1.9 trillion m³ of gas), Sukhoi Log (about 2 thousand tons of gold), Kursk magnetic anomaly and many others. JSC Rosgeologia has extensive experience in successful implementation of projects abroad: dozens of open deposits in countries, Asia Europe Africa and Latin America. Among the large clients of the Holding such companies as "," Gazprom"," Rosneft"," "," "Lukoil MMC," SeverstalNorilsk Nickel"," Itera"," NLMK"," "," and Sibuglemet BP Chevron many others.
History and Performance Indicators
2024: Sergei Radkov's appointment as head
In April 2024, it became known about the appointment of Sergei Radkov as the new head of Rosgeology, which carries out all types of geological exploration work in Russia from regional research on all types of minerals to the calculation of reserves and commissioning of deposits. Previously, the holding has been headed by Sergei Gorkov since April 2019, who will remain on the board of Rosgeology. Read more here.
2023
Revenue reduction by 12% to RUB 16.5 bln
In 2023, Rosgeologia earned 16.5 billion rubles, which is 11.9% less than a year earlier. The company's net profit rose by 5.4%, to 357.6 million rubles. Such data on RAS were released in early April 2024.
The decrease in revenue in Rosgeology was explained by the transfer or change in the scope of work on a number of state and commercial contracts, including parametric drilling and marine seismic exploration. The drop in revenue was compensated by a decrease in cost, administrative and economic expenses and other income, the state holding noted.
Gross profit of Rosgeology in 2023 increased by 4.45% compared to 2022 - to 1.43 billion rubles. The volume of unfulfilled obligations of Rosgeology under state contracts in 2023 decreased by 41%, to 248 million rubles, which was the minimum result for 9 years.
By the end of 2023, the company's assets reached 63.52 billion rubles, rising by 12.9% compared to 56.26 billion rubles at the end of 2022. Non-current assets became more than 3% to 35.43 billion rubles, which was largely facilitated by the acquisition of new fixed assets under the technical re-equipment program under the initiative "Geology: the revival of legend." Current assets at the end of 2023 increased by 27.68% to 28.1 billion rubles, mainly due to receivables, including debts of external counterparties under geological exploration contracts.
In 2023, Rosgeologia carried out work on 46 state contracts in the field of solid minerals, on 11 state contracts - for groundwater, for 10 government contracts for the search for hydrocarbon raw materials, including seven projects for ground geophysical work and three - on work on the shelf, as well as on 10 state contracts for the search for scarce minerals on the bottom of the World Ocean within the framework of international obligations of the Russian Federation.[1]
Obtaining a grant for the development and implementation of the project "Rework of the Field Design Platform"
On January 26, 2023, Rosgeologia announced that it had received a grant from the Russian Information Technology Development Fund (RFRIT) for the development and implementation of the project "Refinement of the Field Design Platform" as part of a competitive selection for the implementation of Russian solutions in the field of information technology. Read more here.
2022
Record 5-year net profit
Net profit of Rosgeology in 2022 reached 559 million rubles, which was a record figure for the Russian holding for five years. The head of the company, Sergei Gorkov, spoke about this at the end of March 2023.
According to him, Rosgeology's investments in equipment for 2022 amounted to 6.5 billion rubles. As a result, for four years, total investments amounted to 16.5 billion rubles. At the same time, the investment program for 2023 will amount to about 3-3.5 billion rubles, but it can be increased by 500 million rubles, Gorkov added.
As for net profit, according to Interfax, in 2022 the state holding recorded it at 545.7 million rubles, which is 7.4% more than a year ago. Thus, in 2022, Rosgeologia increased its net profit by 2.4%, the agency notes.
In 2022, Rosgeologia ensured the reproduction of geological hydrocarbon resources in the amount of 12.4 billion tons of conventional fuel (recoverable resources - 8.4 billion tons). The secured increase in forecast resources of high categories for gold - 100 tons, silver - 974 tons, zinc - 888 thousand tons, lead - 514 thousand tons, copper - 453 thousand tons, tungsten - 6.5 thousand tons, fluorspar - 20 thousand tons.
Sergei Gorkov also noted that in 2022 the company reached a record low level of unfulfilled obligations under government contracts.
 | The value is 395 million rubles... I want to remind you that 3-4 years ago it amounted to almost 4.9 billion rubles... There can be no zero indicator here, due to the fact that we work in various climatic conditions, and we still have the so-called geological risk... We will strive to reduce, but the optimal decrease is maybe 200 million rubles, it will be difficult to achieve below the amount, "he said.[2] |  |
Head of Rosgeology: We need 5 years to replace foreign software with Russian
Rosgeologia will take at least 5 years to replace foreign software with Russian software. This was announced by the general director of the state holding Sergei Gorkov in an interview with RBC ( published on June 22, 2022). Read more here.
The Federal Property Management Agency will replenish the authorized capital of Rosgeology by 12 billion rubles to update the exploration fleet
On March 21, 2022, it was announced that the Federal Property Management Agency would replenish the authorized capital of Rosgeology by 12 billion rubles to update the exploration fleet. The measure is going to set the maximum wear level at 73%. Under Western sanctions, working exploration has become the key to supplying the country's extractive industries with proven reserves.
2021
10% increase in revenue
Rosgeologia in 2021 increased revenue by 10% compared to 2020. In absolutely terms, the figure amounted to 29.9 billion rubles, according to the data that the state-owned company published in April 2022.
The revenue of Rosgeology under state contracts in 2021 reached 12.1 billion rubles, which is 8% less than a year earlier. Revenues from commercial contracts with Russian customers increased by 24% (to 15.4 billion rubles), under foreign contracts - by 39% (to 2.3 billion rubles).
At the end of 2021, the holding recorded a record net profit over the past four years - in the amount of 546 million rubles, including profit attributable to the shareholders of the parent company - in the amount of 508 million rubles.
The volume of obligations not fulfilled by the company at the end of 2021 decreased to 1 billion rubles against 4.9 billion rubles at the end of 2019. The company promises full fulfillment of its unfulfilled obligations in 2022.
Rosgeologia also presented some results of its digital transformation program for 2021:
- modernization of the infrastructure platform was carried out, a common network space was organized, covering all points of the holding's presence;
- the functional development of the landscape was actively underway, so in 2019-2021. more than 70 centralized software products based on domestic solutions were put into operation;
- the import substitution indicator in terms of software at the end of 2021 amounted to 82.5%. The indicator of availability of information systems and services exceeded 98%.
The company called the most significant events of 2021 the completion of work within the Anabaro-Khatanga area, the assessment of the oil and gas potential within the Shchuchinsky area in the north of Western Siberia, as well as on the Shelikhovsky trough of the Sea of Okhotsk.[3]
Placement in Skolkovo of the Rosgeo R&D center
Rosgeology and the Skolkovo Foundation (ВЭБ.РФ Group) entered into a cooperation agreement. The document was signed by Sergey Gorkov, General Director - Chairman of the Management Board of Rosgeologia JSC, and Arkady Dvorkovich, Chairman of the Skolkovo Foundation . This was reported on June 10, 2021 in Skolkovo. Read more here.
2020: The threat of bankruptcy
In April 2020, Rosgeologia reported to the government about the threat of bankruptcy due to a sharp reduction in orders for geological exploration. The state holding, whose total debt burden is 13 billion rubles, has already violated the covenants on loans (Sberbank, VTB and RBRD).
Gorkov says that since the beginning of 2020, foreign and Russian subsoil users have canceled "promising" exploration tenders for 30 billion rubles, which in annual terms is more than 35% of the company's revenue.
2019
Loss - 4 billion rubles
In 2019, Rosgeologia received 4 billion rubles. loss, in 2018 - a profit of 0.5 billion rubles. The debt burden in 2019 increased immediately by 7 billion rubles.
South Africa Oil and Gas Exploration Talks
The national oil company of South Africa PetroSA and the Russian Rosgeologia in November 2019 are negotiating a deal worth $359 million, in which Russia will be allowed to explore promising oil and gas fields on the South African shelf.
Discussion of the deal began in 2017 at the BRICS summit.
Rosgeology expected the signing of an agreement at the RussiaAfrica forum "-," but South Africa slowed down with the approval of Rosgeology's share in the right to explore fields.
The transaction itself provides for geophysical and geochemical studies, as well as drilling six exploration and appraisal wells.
Sergey Gorkov appointed general director
On April 1, 2019, the Minister of Natural Resources and Ecology of Russia Dmitry Kobylkin introduced the new general director, Sergei Gorkov, to the Rosgeologia team. Earlier it was reported that the head of Rosgeology, Roman Panov, was dismissed. On March 9, 2019, it became known that investigators charged the former first deputy director of Rosgeology, Ruslan Gorring, with large-scale fraud. It was noted that we are talking about an amount of more than 5 million rubles.
Sergey Suchkov Acting General Director
In March 2019, the powers of Roman Panov, General Director of Rosgeologia JSC, were terminated ahead of schedule.
2013: Roman Panov Head of Company
In accordance with the Order of the Chairman of the Government of the Russian Federation D.A. Medvedev No. 944-r of 10.06.2013 was appointed to the post of General Director of Rosgeology.
Notes
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