GLOSSARY
- ADR
- American depositary receipt
- Alkaline-surfactant-polymer (ASP) flooding
- A chemical enhanced oil recovery technique for mature fields where a mixture of alkali, surfactant and polymers is injected into a formation
- APG
- Associated petroleum gas
- Augmented reality
- Superimposing digital information (images, videos, text, graphics) on content displayed by an electronic device, be it a smartphone or AR glasses. In production, it is leveraged to promptly receive information about equipment and its condition, simulate work processes, report failures, conduct employee training, etc. This significantly reduces the number of errors and helps to improve performance
- B2B
- Business-to-business: the exchange of products and services between businesses, rather than between businesses and consumers
- B2C
- Business-to-consumer: the process of selling products and services directly to consumers, who are the end-users of these products and services
- Bps
- Basis point
- Cased borehole
- A portion of the borehole lined with casing pipes, which are screwed or welded together to form a casing string
- CGF
- Central gathering facility
- CGU
- Cash-generating units
- CIS
- Commonwealth of Independent States (former Soviet republics, except for Latvia, Lithuania, Georgia and Estonia)
- CNG
- Compressed natural gas
- Corporate culture
- A system of values, attitudes, goals and principles underlying teamwork and workplace dispute settlement, which are shared by all company employees. Corporate culture is based on corporate values
- Corporate culture workshops
- Employee workshops attended by company and enterprise executives to discuss the current and target corporate culture model in the company and initiatives that may help to build an engaging environment
- CPI
- Consumer price index
- D&O
- Directors and officers liability insurance
- DCU
- Delayed coking unit
- EAD
- Electronic asset development
- EBIT
- Earnings before interest and taxes. This measure of company financial performance is in between gross and net profit
- EBITDA
- Earnings before interest, taxes, depreciation and amortisation
- ECA
- Export credit agency
- Engaging environment
- A set of principles and processes that help employees reach their full potential, continuously develop and improve their performance, actively collaborate to address issues, and feel a sense of personal responsibility for their share of work and their contribution to the company achievements
- EnMS
- Energy management system
- Etalon
- An operational transformation programme based on an exemplary business model. The commitment to delivering exemplary performance is typical of a mature company that has successfully navigated through development challenges
- EURIBOR
- Euro Interbank Offered Rate
- FAR
- Fatal accident rate
- Fracking
- Hydraulic fracturing
- GDP
- Gross domestic product
- GRI
- An internationally recognised sustainability reporting framework developed by the Global Reporting Initiative
- Hierarchical management
- A classical organisational model integrating top-down management guidance with bottom-up flow of information from personnel on the ground. It is based on strict supervision, clear delineation of responsibilities, red tape and a vertical hierarchy, and is regarded as inefficient in today's world
- HRR
- Hard-to-recover reserves
- HSE
- Health, safety and environment
- IEA
- International Energy Agency
- IFRS
- International Financial Reporting Standards
- Indigenous minorities
- Indigenous minorities of the Russian Far North
- Industrial Internet of Things (IIoT)
- A system of interconnected computer networks and connected physical assets (equipment) with embedded sensors to enable data collection and exchange. This enables remote equipment control and industrial automation, with no human intervention
- IRMF
- Integrated risk-management framework
- KMAO
- Khanty-Mansi Autonomous Okrug
- KPI
- Key performance indicator
- LB
- Licence block
- Lean production
- A management concept based on continuous improvement and commitment to eliminating all types of losses, with all employees being involved in the improvement process
- LIBOR
- London Interbank Offered Rate
- LPG
- Liquefied petroleum gas
- LTIFR
- Lost time injury frequency rate
- Management by objectives
- A collective approach to formulating goals, setting the direction, and decision-making in the company. It ensures that company executives and employees share the same goals, understand their importance, and are able to assess their performance and make improvements
- MET
- Mineral extraction tax
- MFWKO
- Mobile free-water knockout unit
- MSHF
- Multi-stage hydraulic fracturing
- Mud pit
- A facility designed for centralised collection, treatment and disposal of drilling waste
- Network-based management
- A modern management model based on flexible cross-functional teams capable of setting their own goals and making independent decisions. It relies on horizontal hierarchy, lifelong learning and personal responsibility for the outcomes It is best suited for addressing complex challenges in a rapidly changing environment
- NGL
- Natural gas liquids
- NIS
- Naftna Industrija Srbije А.D., Novi Sad
- NPP
- Non-profit partnership
- NPS
- Net Promoter Score
- OC
- Oil company
- Oe
- Oil equivalent
- OECD
- Organisation for Economic Cooperation and Development
- OGCF
- Oil and gas condensate field
- OIRSP
- Prirazlomnaya offshore ice-resistant stationary platform
- OMS
- Operations management system
- OPEC
- Organisation of the Petroleum Exporting Countries
- ORF
- Oil recovery factor
- PMAC
- Polymer-modified asphalt cement
- PMB
- Polymer-modified bitumen used for road construction
- Pp
- Percentage point
- Predictive analytics
- A class of data analysis techniques focused on predicting the future behaviour of objects and entities in order to optimise decision-making
- Predictive incident management
- A fundamentally new approach to equipment maintenance and repairs based on the analysis of digital data gathered from sensors to accurately predict wear and tear. This helps to maximise maintenance efficiency and prevent accidents
- PRMS
- Petroleum Resources Management System. This is the world's most widely used system for estimating hydrocarbon resources, defining not only the degree of uncertainty over oil and gas discovery, but also the economic feasibility of extracting hydrocarbons. Reserves to be measured are divided into three categories: proved, probable and possible (3P)
- Proppant / propping agent
- Granular material designed to keep an induced hydraulic fracture open under ground pressure and thus enhance oil recovery
- R&D
- Research and development
- RAS
- Russian Accounting Standards
- Refinery
- Oil refinery
- Regular management practices
- Tools used by managers to improve operating performance and safety. They rely on clearly defined algorithms and implementation principles and are applied at all levels of company management. Regular management practices help implement the company values and create a cultural environment that contributes to achieving its strategic goals
- ROACE
- Return on average capital employed, calculated as net profit (less dividend on shares) divided by the average number of ordinary shares
- SEC
- US Securities and Exchange Commission
- Seismic
- Seismic survey
- Underbalanced drilling
- A drilling technique where formation pressure is higher than the pressure in the wellbore. The pressure difference minimises formation contamination and helps to increase the drilling rate and the oil recovery factor
- US GAAP
- Generally Accepted Accounting Principles approved in the US
- USA
- Untied States of America
- VAT
- Value-added tax
- VIOC
- Vertically integrated oil company
- YNAO
- Yamalo-Nenets Autonomous Okrug