NJSC Naftogaz Ukrainy has reported that the assessment of its assets for 2014 grew by 2.2 times, or UAH 277.061 billion, to UAH 514.979 billion, the company said in a report audited in keeping with the International Financial Reporting Standards.

The company's working capital grew by 0.4%, or UAH 176 million, to UAH 43.278 billion, while capital assets rose by 2.4 times, or UAH 276.885 billion, to UAH 471.701 billion.

Capital assets expanded mainly due to fixed assets whose value rose by 2.5 times, or UAH 273.53 billion, to UAH 454.991 billion.

"The group has hired independent professional assessment firms to establish the fair value of its fixed capital as of December 31, 2014. The fair value was determined based on the amortized cost of replacement, or market data in accordance with international valuation standards," the report said.

Ernst & Young was engaged in the independent evaluation of the assets, while Ryder Scott conducted the evaluation of hydrocarbons stocks.

According to the report, gas transportation assets were worth UAH 239.7 billion (operating revenue of this segment is estimated at UAH 24.2 billion), gas storage assets were worth UAH 146.2 billion (operating revenue is UAH 1.4 billion), and gas production assets were worth UAH 42.4 billion (operating revenue is UAH 4.8 billion). Gas trading assets were estimated at UAH 28.3 billion (operating revenue is UAH 53.3 billion). In addition, the oil transportation sector accounted for UAH 20 billion (operating revenue is UAH 2 billion) the processing of crude oil and condensate for UAH 5 billion (operating income is UAH 5.2 billion), the extraction of oil and condensate for UAH 3.4 billion (operating revenue is UAH 300 million).

Thus, at the end of 2014, trade in gas, its production and storage brought Naftogaz 59% of total revenue, another 31% of revenue came from gas transportation, and oil production accounts for 10%.