SIBUR Oil-Gas, KPMG Group Sign Protocol for Cooperation

The Siberia-Urals Oil and Gas Company (SIBUR) and the KPMG group of companies have signed a protocol for cooperation. According to SIBUR's PR Department, the KPMG group now becomes the Russian company's strategic consultant as concerns the restructuring of SIBUR's debts, business strategies, corporate management, internal audits, and risk management. The measure is supposed to help increase the financial transparency of the gas-oil company and boost its effectiveness.

The KPMG group was selected as a consultant for its extensive experience in gas and oil business, its good understanding of the specifics of the industry, and the possibly increased complexity of decisions it may offer as a collective advisor.

KPMG is an international group of companies providing professional consulting services as concerns audits, taxation, law, and financing. It has offices in over 720 cities in 152 countries throughout the world. The group's permanent representative office in Russia opened in 1990, its about 650 employees mostly Russian citizens. The staff of the office is assisted by analysts from Great Britain, the US, Canada, Australia, New Zeeland, Germany, Ireland, Denmark, and Sweden.