Oil business
The Gazprom Group’s strategic goal in the oil business is to maintain its status as a major international oil and gas company through effective management of the asset portfolio across the entire value chain and the use of cutting-edge process solutions, with a view to maximizing the financial results while complying with high standards of social and environmental responsibility.
Gazprom Neft accounts for the bulk of the Gazprom Group’s oil production. The key objective of Gazprom Neft in the period up to 2030 is to evolve into a next-generation company serving as a model of efficiency, technological effectiveness and safety for other oil companies of the world.
Strategic objectives:
- to attain the maximum return on investments under new field development projects;
- to provide for the efficient development of active fields;
- to ensure leadership in modernization and operational efficiency projects at refining facilities;
- to maximize premium sales of the Gazprom Group’s petroleum products.
Exploration and production
Strategic priorities:
- to provide for the efficient development of the mature resource base;
- to develop the resource base of the Yamal Peninsula;
- to bring into development and monetize the uniquely vast liquid hydrocarbon reserves in the Nadym-Pur-Taz region;
- to devise cost-effective approaches to bringing into development oil source beds, as well as the Domanic and Paleozoic deposits;
- to bring into development the remaining recoverable reserves that are currently unprofitable by deploying cutting-edge engineering & technical solutions;
- to prepare the resource base to support production after 2025.
Priority areas of development in the medium term are as follows:
- to provide for the efficient development of the mature fields and execute the enhanced oil recovery program;
- to commence the first-ever development of the oil rims, as well as the Achimov and Neocomian-Jurassic deposits in the fields of the Gazprom Group;
- to devise solutions for cost-effective development of hydrocarbon reserves that are hard to recover due to certain geological and engineering & technical peculiarities.
Logistics, refining and marketing
Strategic priorities:
- to increase refining depth and yield for light products;
- to enhance the efficiency and technological effectiveness of refining and marketing;
- to improve conventional business sustainability through developing petrochemical activities;
- to maintain leadership and enhance market shares in the existing and new markets for the Group’s products.
Priority areas of development in the medium term are as follows:
- to continue implementing the modernization programs and capacity expansion across refineries;
- to keep expanding the product range and developing the sales infrastructure.
