Information about the program for the disposal of ZARUBEZHNEFT’s non-core assets

Pursuant to the requirements of Decree No. 596 of the Russian President dated May 7, 2012 as well as Directive No. 894-p of the Russian Government dated May 11, 2017 “On the Identification and Sale of Non-Core Assets”, Zarubezhneft took measures in 2019 to dispose of the Company’s non-core assets.

Measures to sell non-core assets were carried out based on documents approved by the Zarubezhneft Board of Directors:

  • Program for the disposal of non-core assets (Minutes No. 145 of the Board of Directors dated November 27, 2017)
  • Register of non-core assets (Minutes No. 179 of the Board of Directors dated March 27, 2020)
  • Plan for the sale of non-core assets (Minutes No. 179 of the Board of Directors dated March 27, 2020)

In 2020, 30 non-core assets were sold for a total of RUB 6.56 million.

INFORMATION ABOUT THE SALE OF NON-CORE ASSETS IN 2020
No. Asset Inventory number (if applicable) Balance sheet line containing the asset as of the reporting date preceding the sale of the asset Book value of the asset (RUB thousand) Actual sale price (RUB thousand) Deviation of the actual sale price from the book value of the asset (RUB thousand) Reason for the deviation of the actual sale price from the book value of the asset
1 Toyota Corolla (У 622 УР 199) У 622 УР 199 1150 0 539,265 +539,265 Sold at auction
2 Tractor Т-170 28-12 УО 00000087 1150 0 124 +124 Sold at auction
3 Cargo truck tractor MAZ E369MO73 00000091 1150 1,500,499 680 –820,499 Sold by open bidding (sale below the book value was approved by the Zarubezhneft Board of Directors, Minutes No. 179 dated 03/27/2020)
4 Cargo truck tractor MAZ 018 MO 00000095 1150 1,174,277 465 –709,277 Sold by open bidding (sale below the book value was approved by the Zarubezhneft Board of Directors, Minutes No. 179 dated 03/27/2020)
5 Audi A-6 3.0TD Quadro А24-О-375 143100 0 355,515 +355,515 Sold at auction
6 Share in Jadran Naftagas LLC (24%) 1150 14,215 29,859 +15,644 Sold to the Company’s main participant
7 Lexus LX470 E555OE 51 Е555ОЕ 51 1150 0 860 +860 Sold at auction
8 Tanker semi-trailer-22, АР8424 56 00000068 1150 0 53,200 +53 Sold at auction
9 Tanker semi-trailer NEFAZ AN 1053 73 00000073 1150 227,318 52,500 –174,818 Sold by open bidding (sale below the book value was approved by the Zarubezhneft Board of Directors, Minutes No. 179 dated 03/27/2020)
10 Tanker semi-trailer-22 AN 2176 73 00000085 1150 586,939 45,500 –541,439 Sold by open bidding (sale below the book value was approved by the Zarubezhneft Board of Directors, Minutes No. 179 dated 03/27/2020)
11 Peugeot Partner 1.6 0101008002 143100 0 315,027 +315,027 Sold at auction
12 Peugeot Partner 0101006002 143100 0 308,836 +308,836 Sold at auction
13 UZST 22 AN 2455 73 00000043 1150 663,608 102,500 –561,108 Sold by open bidding (sale below the book value was approved by the Zarubezhneft Board of Directors, Minutes No. 179 dated 03/27/2020)
14 Tanker semi-trailer-22 АС 0929 56 00000039 1150 256,361 67,666 –188,695 Sold by open bidding (sale below the book value was approved by the Zarubezhneft Board of Directors, Minutes No. 179 dated 03/27/2020)
15 UZST 22 AN 2454 73 00000065 1150 663,608 57,666 –605,942 Sold by open bidding (sale below the book value was approved by the Zarubezhneft Board of Directors, Minutes No. 179 dated 03/27/2020)
16 UZST 22 AN 2456 73 00000054 1150 663,608 57,666 –605,942 Sold by open bidding (sale below the book value was approved by the Zarubezhneft Board of Directors, Minutes No. 179 dated 03/27/2020)
17 Tanker semi-trailer-22 AN 1223 73 00000018 1150 465,503 51,666 –413,837 Sold by open bidding (sale below the book value was approved by the Zarubezhneft Board of Directors, Minutes No. 179 dated 03/27/2020)
18 Tanker semi-trailer-24 АМ 8428 73 00000028 1150 0 52,500 +52,500 Sold at auction
19 NEFAZ 22 АМ 6490 73 00000079 1150 0 51,100 +51,100 Sold at auction
20 UAZ B 555 OT 163 00000084 1150 0 124,800 +124,800 Sold at auction
21 Volkswagen LT35 115T706 0100010083 143100 0 149,457 +149,457 Sold at auction
22 Volkswagen Caddy 878A589 0100010071 143100 0 72,465 +72,465 Sold at auction
23 Volkswagen Transporter 2.4D 0100010068 143100 70,686 60,991 –9,695 Sold by open bidding (sale below the book value was approved by the Zarubezhneft Board of Directors, Minutes No. 179 dated 03/27/2020)
24 Iveco Zastava 0100010053 143100 67,055 117,755 +50,7 Sold at auction
25 Ford Transit Combi 0100010087 143100 0 241,999 +241,999 Sold at auction
26 Volkswagen Crafter 2.5TDI 0100010035 143100 431,561 412,116 Sold by open bidding (sale below the book value was approved by the Zarubezhneft Board of Directors, Minutes No. 179 dated 03/27/2020)
27 Volkswagen Golf2 0100010147 143100 0 18,976 +18,976 Sold at auction
28 Toyota Caravan 0100010251 143100 0 393,956 393,956 Sold at auction
29 Volkswagen Passat 0100010853 143100 353,434 353,859 +425 Sold at auction
30 Ford Transit combi VAN 350 0200001316 143100 482,849 326,945 –155,904 Sold by open bidding (sale below the book value was approved by the Zarubezhneft Board of Directors, Minutes No. 179 dated 03/27/2020)

The Regulation on Organizing the Sale of ZARUBEZHNEFT GROUP’s Non-Core Assets was approved (Order No. 127 dated May 17, 2017) to structure the process of the Company’s selling non-core assets and provides a detailed and gradual procedure for the sale of non-core assets in competitive procedures taking into account the requirements of the legislation of the Russian Federation:

  • Stage 1: auctions/bidding
  • Stage 2: sale through a public offering
  • Stage 3: sale without a price announcement
  • Stage 4: preparation of further proposals for the sale of non-core assets (if a buyer was not found in the above three stages, various proposals will be prepared for the possible transfer of non-core assets for rent or collateral, gratuitous transfer, etc.).

Reports on the sale of non-core assets by ZARUBEZHNEFT GROUP were reviewed quarterly at meetings of the Board of Directors and posted on the Interdepartmental State Property Management Portal of the Federal Agency for State Property Management.