Investor Presentaiton
TMK
Russian Market Overview
And
Continued investment in technology solutions, R&D and oil field services enhancing our position
Demand is growing particularly for solutions in complex, unconventional drilling where our product suite
provides clear market advantages
Russian oil production
11,300
10,300
Thousand barrels per day
9,300
8,300
7,300
2007
Source: Sberbank CIB
2011
Northern Timan
Pechora fields***
TNK-Uvat
Vankor, Talakan,
Verkhnechonsk
PSA
Brownfield
2015E
Prirazlomnoye
Yamal fields
Gazprom, SE,
NOVATEK,
Rospan condensate
Caspian
Other East Siberia
Russian oil taxation
2019E
100%
In addition
80%
Taxation for greenfield, tight and offshore projects will
cause boost of drilling growth
60%
By 2020, approximately 25% of the Russian oil
production will come from new areas compared to
12% currently according to BAML analysts estimates
40%
20%
0%
Brownfield Greenfield
Tight oil
(Bazhenov)
Offshore
(Kara Sea)
Margin ■ MET
■ Export Duty
8
Source: Bank of America Merrill Lynch ResearchView entire presentation