Urals Energy Public Company Limited 2013 Half -6-
27 Septembre 2013 - 8:01AM
UK Regulatory
Management have estimated the recoverable amount of cash
generating units. Changes in the assumptions used can have a
significant impact on the amount of any impairment charge.
5 Inventories
30 June 30 June 31 December
2013 2012 2012
-------------------------- --------- --------- ------------
Crude oil 11,005 10,218 3,486
Oil products 3,930 3,123 2,934
Materials and supplies 4,539 3,922 4,710
-------------------------- --------- --------- ------------
Total inventories 19,474 17,263 11,130
-------------------------- --------- --------- ------------
6 Property, Plant and Equipment
Oil and
gas Refinery and Assets under
Cost at properties related equipment Buildings Other Assets construction Total
---------------------- ------------ -------------------- ---------- ------------- --------------------- --------
1 January 2012 149,213 8,141 879 5,488 6,004 169,725
Translation
difference (2,831) (154) (16) (104) (164) (3,269)
Additions 251 - - 5 706 962
Capitalised borrowing
costs - - - - 43 43
Transfers - - - - - -
Disposals (161) - - - - (161)
---------------------- ------------ -------------------- ---------- ------------- --------------------- --------
30 June 2012 146,474 7,987 862 5,388 6,589 167,300
---------------------- ------------ -------------------- ---------- ------------- --------------------- --------
Average capitalisation rate of capitalised interest expense for
the period ended 30 June 2012 is 5.5%.
Oil and gas Refinery and Other Assets under
properties related equipment Buildings assets construction Total
-------------------- -------------------- ------------------- ---------- -------- -------------------- ---------
Accumulated
Depreciation,
Amortisation and
Depletion at
1 January 2012 (45,025) (2,660) (552) (3,221) - (51,458)
Translation
difference 1,021 65 12 74 - 1,172
Depreciation,
depletion and
amortisation (2,613) (225) (24) (179) - (3,041)
Disposals 104 - - - - 104
-------------------- -------------------- ------------------- ---------- -------- -------------------- ---------
30 June 2012 (46,513) (2,819) (564) (3,327) - (53,223)
-------------------- -------------------- ------------------- ---------- -------- -------------------- ---------
Oil and Refinery and Assets
gas related Other under
properties equipment Buildings Assets construction Total
--------------------- ------------ ------------- ---------- -------- -------------- --------
Net Book Value at
1 January 2012 104,188 5,481 327 2,267 6,004 118,267
--------------------- ------------ ------------- ---------- -------- -------------- --------
30 June 2012 99,961 5,168 298 2,061 6,589 114,077
--------------------- ------------ ------------- ---------- -------- -------------- --------
Oil and gas Refinery and Assets under
Cost at properties related equipment Buildings Other Assets construction Total
------------------- ------------------- ------------------ ---------- ------------- ------------------ ---------
1 January 2013 161,850 8,630 933 5,843 5,815 183,071
Translation
difference (11,565) (617) (66) (450) (462) (13,160)
Additions 81 - - 630 864 1,575
Capitalised
borrowing costs - - - - 14 14
Transfers - - - - - -
Disposals - - - - - -
30 June 2013 150,366 8,013 867 6,023 6,231 171,500
------------------- ------------------- ------------------ ---------- ------------- ------------------ ---------
Average capitalisation rate of capitalised interest expense for
the period ended 30 June 2013 is 5.5%.
Accumulated
Depreciation,
Amortisation and Oil and gas Refinery and Assets under
Depletion at properties related equipment Buildings Other Assets construction Total
------------------- ------------------- ------------------ ---------- ------------- ------------------ ---------
1 January 2013 (53,253) (3,274) (634) (3,610) - (60,771)
Translation
difference 3,941 245 46 271 - 4,503
Depreciation (2,645) (222) (24) (312) - (3,203)
Disposals - - - - - -
30 June 2013 (51,957) (3,251) (612) (3,651) - (59,471)
------------------- ------------------- ------------------ ---------- ------------- ------------------ ---------
Refinery and
Oil and gas related Assets under
properties equipment Buildings Other Assets construction Total
Net Book Value at
1 January 2013 108,597 5,356 299 ,233 5,815 122,300
30 June 2013 98,409 4,762 255 2,372 6,231 112,029
------------------- ------------------- ------------------ ---------- ------------- ------------------ ---------
Included within oil and gas properties at 30 June 2013 and 31
December 2012 were exploration and evaluation assets:
Cost at
31 Cost at
December Translation 30
2012 Additions difference June 2013
------------------------------- ---------- ---------- ------------ -----------
Exploration and evaluation
assets
Arcticneft 16,967 - (1,212) 15,755
Petrosakh 30,885 - (2,206) 28,679
------------------------------- ---------- ---------- ------------ -----------
Total cost of exploration and
evaluation assets 47,852 - (3,418) 44,434
------------------------------- ---------- ---------- ------------ -----------
The Group's oil fields are situated in the Russian Federation on
land owned by the Russian government. The Group holds production
mining licenses and pays production taxes to extract oil and gas
from the fields. The licenses expire between 2037and 2067, but may
be extended. Management intends to renew the licenses as the
properties are expected to remain productive subsequent to the
license expiration date.
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