Russia's 4th-largest oil producer; core mature West Siberian fields plus East Siberian growth at Talakan; integrated with the Kirishi (KINEF) refinery.
Sanctioned; famous ~$60bn+ cash pile; figures estimated.
Its EV/EBITDA of -5.0x is below the 5.9x median across the 142-company universe, the free-cash-flow yield of 37.5% is higher than the 6.5% median, and at $-4.09/boe of proved reserves it is cheaper than the $13.51/boe median.
On a balanced screen across the universe, Surgutneftegas scores 56/100, strongest on valuation (95/100). Sub-scores: value 95, quality 59, growth 37, risk 93 (higher = riskier). Note: sanctioned / uninvestable for Western acquirers — shown for completeness only.
Surgutneftegas holds approximately 11 billion boe of proved (1P) reserves with FY2025 production of about 1 thousand boe/d (85% liquids), a reserve life of roughly 23182.3 years. Break-even: ~$25 (Brent breakeven) — low-cost; huge net cash (net debt strongly negative)
For Surgutneftegas, no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.
| Country / region | Prod. share | Country risk | Key jurisdiction risk |
|---|---|---|---|
| Russia | 100% | 92 | Sanctions, expropriation, export bans, war; effectively uninvestable. |
Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.
Work with us →About Enerquill| Asset | Location | Type | Notes |
|---|---|---|---|
| Asset | Country | Type | note |
| West Siberia core fields | Russia | Upstream | Mature Khanty-Mansiysk oil, bulk of output |
| Talakan (East Siberia) | Russia | Upstream | Key East Siberian field, Sakha Republic |
| Alinskoye | Russia | Upstream | East Siberia satellite of Talakan hub |
| Rogozhnikovskoye | Russia | Upstream | West Siberia development field |
| Kirishi Refinery (KINEF) | Russia | Downstream | ~20-22 Mt/yr refinery, Leningrad region |
| Gas processing | Russia | Midstream | Associated gas processing in Surgut area |
| Retail fuel network | Russia | Marketing | Stations concentrated in NW Russia |
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Production (mboe/d) | 1 | 1 | 1 | 1 | 1 |
| Proved reserves (bnboe) | 10.50 | 10.70 | 10.80 | 11.00 | 11.00 |
| Revenue ($bn) | 24.0 | 30.0 | 25.0 | 27.0 | 27.0 |
| EBITDA ($bn) | 8.0 | 12.0 | 8.0 | 9.0 | 9.0 |
| Net income ($bn) | 8.0 | 1.0 | 15.0 | 12.0 | 8.0 |
| Free cash flow ($bn) | 6.0 | 8.0 | 6.0 | 7.0 | 6.0 |
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Primary: Surgutneftegas FY2025 annual report / results release and investor disclosures; market data via public providers (~mid-2026). Figures are best-estimates pending source verification.
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