MOSCOW, April 4 (RIA Novosti) - Russian independent natural gas producer Itera posted on Friday a 23.7% increase, year-on-year, in net profit calculated to Russian Accounting Standards (RAS) to 2.9 billion rubles ($124 million) in 2007.
Itera's sales also increased 23.7%, year-on-year, to 29.7 billion rubles ($1.3 billion) in 2007.
The Itera oil and gas company is currently developing natural gas production in the Yamal-Nenets Autonomous Area in West Siberia. The Sverdlovsk Region in the south Urals is Itera's major gas consumer.
Itera has authorized capital of 60 mln rubles ($2.4 mln). The company is 99.99% owned by Itera Holdings Limited, based in Cyprus.
