Our History

Company History

1995: OJSC Siberian Oil Company is established by a decree issued by the President of the Russian Federation. Acting as the Company’s founder, the government transfers its stake in the country’s biggest oil industry enterprises (OJSC Noyabrskneftegaz, OJSC Noyabrskneftegazgeophysica, OJSC Omsk Refinery and OJSC Omsknefteproduct) to the authorised capital of the holding.

1996—1997: Sibneft privatization: private investors acquire 49 percent of Sibneft stock. OJSC Siberian Oil Company succeeds in its bid to purchase the government’s stake in Sibneft in 1997 as part of the state program «Shares for Loans.»

1998—2004: Sibneft’s management invest in modernising production, introducing the latest technology, and optimising business processes. A push to increase assets results in significant geographic and operational expansion in the regions (Tomsk Region, Omsk Region, and Chukotka Autonomous Okrug) and the sales network in the regions (Sverdlovsk Region, Tyumen Region, Krasnoyarsk Krai, Saint Petersburg, and Moscow). The Company purchases a 49.9% stake in JSC NGK Slavneft, which produces oil and gas in Western Siberia and the Krasnoyarsk Krai.

2005: Gazprom Group buys a 75.68% controlling interest in OJSC Sibneft.

2006: On May 13, 2006, the Company’s name is changed to Joint Stock Company Gazprom Neft. One of the Company’s first strategic objectives was to position itself as a global company with regionally diversified assets along the entire value chain.

Gazprom Neft enters the retail market of Central Asia by setting up an affiliate, Gazprom Neft Asia Opens in new window, to sell the Company’s petroleum products in Kyrgyzstan, Tajikistan, and Kazakhstan. The Company participates in significant international projects for the first time, acting as a shareholder in the construction of the Burgas-Alexandroupolis Transbalkan Oil Pipeline in partnership with Rosneft and Transneft.

2007: Business units are set up within the Company for different areas of operations: Gazprom Neft-Nefteservice, Gazprom Neft-Marine Bunker, Gazprom Neft-Lubricants and Gazprom Neft-Aero. Looking to further expand its resource base, in December 2007 Gazprom Neft acquires a 50% stake in Tomskneft, a company producing oil and gas in the Tomsk Region and Khanty-Mansi Autonomous Okrug.

2008: Gazprom Neft, Rosneft, Lukoil, TNK-BP, and Surgutneftegas sign a Memorandum of Understanding for cooperation and joint participation in projects in Venezuela and Cuba as part of the National Oil Consortium.

2009: Gazprom Neft acquires new assets for its resource portfolio: Naftna Industrija Srbije (NIS) and a controlling stake in Sibir Energy, which increases its ownership stake in the Moscow refinery and allows access to the Salym oil fields. In April 2009, the Company purchases the Chevron Italia S.p.A. oils and lubricants production plant in the city of Bari (Italy) from Chevron Global Energy. Gazprom Neft also signs a Memorandum of Understanding with the National Iranian Oil Company (NIOC) for the development of the Azar and Shangule fields. The Company launches a large-scale rebranding program for the Gazprom Neft network of gas stations.

2010: Gazprom Neft continues to make its mark on the global oil and gas market.

  • Gazprom Neft and Sweden’s Malka Oil closed a deal for the purchase of STS Service, Malka Oil’s production unit.
  • Gazprom Neft signs a contract to develop the Badra field in Iraq which contains more than 2 bln barrels of oil reserves.
  • The Company acquires a retail network in Kazakhstan
  • Gazprom Neft participates in a project to develop the SeverEnergia, LLC (through its subsidiary) fields.
  • Gazprom Neft leads the consortium of Russian vertically integrated oil companies in the Venezuela project for the development of the Khunin-6 oil field.
  • The Company acquires a share in an offshore exploration project in Cuba.
  • The Company joins the PSA project, currently at the exploration stage, in offshore Equatorial Guinea.