All Gazprom Neft sites
  • The company "Gazprom Neft"
    Filling station network
    Home towns
    Hockey tournament "Gazprom Neft Cup"
  • The company "Gazprom Neft"
    Filling station network
    Home towns
    Hockey tournament "Gazprom Neft Cup"
  • The company "Gazprom Neft"
    Home towns
    Hockey tournament "Gazprom Neft Cup"
  • Company "Gazpromneft"
    Filling station network
    Home towns
    Hockey tournament "Gazprom Neft Cup"
  • RU
Tenders Contacts
PJSC Gazprom Neft
  • Company
    • Gazprom Neft at a Glance
    • Development Strategy
    • Our History
    • Operating companies
    • Management
      • Board of Directors
      • Management Board
      • Internal regulations
    • Contacts
      • Feedback
    • Our Business
      • Exploration and Production
        menu img

        Find out more about the technologies used in oil exploration and production, and about Gazprom Neft’s projects in Russia and abroad

      • Sales of Oil Products
        menu img

        All oil products sold by Gazprom Neft are produced at its own facilities, including gasoline, diesel fuels, motor oil and lubricants, aviation kerosene and bitumens

      • Refining
        menu img

        Successful implementation of a major modernisation project throughout its refineries has allowed Gazprom Neft to achieve a high level of refining efficiency

      • Export
        menu img

        Gazprom Neft’s products are exported to more than 50 countries worldwide

    menu img Where We Work menu img Company Structure
  • Products
    • For Motorists
      Для автомобилистов

      High-quality fuels, complementary products and merchandise, and a consistently high standard of service

      • Filling Station Network
      • Engine Oils
    • For Business
      Для бизнеса

      Gazprom Neft offers a wide range of oil products, for various applications

      • Motor Fuel
      • Fuel Cards
      • Aviation Fuel
      • Lubricants
      • Bunkering
      • Bitumen Products
      • Other Oil Products
    • Our Brands
      Наши бренды

      All Gazprom Neft brands are marked by the same commitment to high quality and outstanding service

    menu img Loyalty Program menu img The new-generation
    automotive fuel
    G-Drive
  • Technologies
    • Strategy
      Strategy

      The company's innovation development strategy, technology strategy of the exploration and production unit

    • Oil refining
      Oil refining

      Development of new catalysts, solid acid alkylation

    • Exploration
      Exploration

      “Green” seismic, high-precision seismic and electronic prospecting; the search for new oil-bearing regions

    • Oil products
      Oil products

      Production of modified bitumens and new bitumen products

    • Drilling
      Drilling

      Technical limit, geo-steering systems and remote controlled drilling, rotary steerable systems (RSS)

    • Energy and power
      Energy and power

      Assets power generation, effective utilisation of APG, geothermal station in Serbia, the NIS windfarm

    • Production
      Production

      High-technology drilling, multi-stage fracking


    • Partnership
      Partnership

      Identifying partner organizations engaged in innovative activity in areas of strategic importance for the company

  • Investors
    • Share Capital

      menu img

      Securities, dividend policy and latest stock quotes

    • Debt
    • News and Reports
    • Financial results
    • Analysts' Centre

      menu img

      Operational and financial data, 1998 to date

    • Investors’ Calendar

      Company news and events

    • Corporate Governance
    • Information for Shareholders
      menu img

      Information for individual shareholders and holders of depositary receipts

    • Disclosure of Information

      Transparency of financial information – key principles of company policy

    • General Meeting of Shareholders
    • IR Contacts
    menu img 2017 annual report
    86.2 mtoe
    The Total Volume
    of Hydrocarbons
    Extracted in 2016
  • Newsroom
    • Newsroom
    • Gazprom Neft strengthens its own Arctic fleet with a second icebreaker, the Andrey Vilkitsky
      • Gazprom Neft strengthens its own Arctic fleet with a second icebreaker, the Andrey Vilkitsky
        20 December 2018
      • Gazprom Neft introduces digital energy standards in its refining operations
        15 February 2019
      • Gazprom Neft to increase supplies of innovative bitumens and lubricants to the Novosibirsk Oblast
        14 February 2019
      • Gazprom Neft supports the development of the Omsk Oblast
        14 February 2019
    • Interviews



      • Gazprom Neft Trading: exports of Arctic oil will continue to grow
        28 January 2019
        Argus agency

      • Interview with Gazprom Neft CEO Alexander Dyukov for TV channel Russia 24
        28 December 2018
        TV channel "Russia-24"

      • Well-led innovation
        14 December 2018
        Stiumul
    • Gazprom Neft in Social Media
      Company in social networks

      All updates from official Gazprom Neft accounts in a single feed

    • Contacts for Media

      Phone.: +7 (495) 777-3143
      (Moscow)

      Phone.: +7 (812) 648-3143
      (Saint-Petersburg)

      E-mail: pr@gazprom-neft.ru

    • Glossary
    • Video

      Reserves at Gazprom Neft’s Neptune field reach 415 million tonnes

    • Gallery
      Фотоархив
  • Social Responsibility
    • Corporate Social Responsibility (CSR)
      menu img

      Gazprom Neft successfully adheres to principles of sustainable development and social responsibility

    • Energy Conservation and Efficiency

      Cutting the environmental impact, reducing the consumption of resources, and improving energy efficiency at Gazprom Neft

    • Gazprom Neft Corporate Responsibility Program

      The full Gazprom Neft corporate social responsibility (CSR) programme

    • Environment

      menu img

      Preserving the natural environment and using natural resources responsibly are top priorities for the company

    • Support and Development for Employees

      The company is committed to the constant improvement of its professional development programmes and employee benefits packages

    • Responsibility in Sustainable Development

      Full archive

    • Supporting Professional Sport

      Gazprom Neft manages an extensive programme in the support and development of professional sport

    • Industrial Safety and Occupational Health
      menu img

      Gazprom Neft is fully committed to constantly improving safety

    • Engaging with the peoples of the Far North

      The company is engaged in oil production throughout areas inhabited by indigenous minorities of the Russian Far North

    • Gazprom Neft Cup

      The leading kids’ hockey tournament in Europe

    Bolshoi Festival of Russian Music Bolshoi Festival
    of Russian Music
    Social Report 2017 Social Report 2017
  • Careers
    • Working with Us
      Working with Us

      What does it mean to work in our company?

    • Careers – Latest Announcements
    • Meet the Employer
    • Graduates and Students
      Graduates and students

      Gazprom Neft has long-standing relationships with the country’s leading higher educational establishments

    • Personal Development Programs

      A comprehensive training and development programme ensures the continued professional development of employees at all levels

    • A Day in the Life
      A day in the life

      Life at Gazprom Neft – photo reportage

    • A History of Success

      Success stories

    • Vacancies
      • Специалист по эксплуатации АЗС и МАЗС (г. Омск)
        Омск
      • Специалист по эксплуатации АЗС и МАЗС (г. Челябинск)
        Челябинск
      • Руководитель направления по оптимизации бизнес-процеcсов контроля качества и количества
        Санкт-Петербург
  • Line of businesses

    • Gazprom Nefts filling stations
    • Fuel Cards
    • Alternative Fuel
    • G-Energy motor oils
    • Marine lubricants
  • Social Responsibility

    • Home Towns
    • The Gazprom Neft Cup KHL Kids Hockey Tournament
  • Production

    • Gazpromneft-East (LLC)
    • Gazpromneft-Muravlenko
    • Gazpromneft-Noyabrskneftegaz (JSC)
    • Gazprom Neft Orenburg (LLC)
    • Gazprom Neft Development (LLC)
    • Gazpromneft-Sakhalin (LLC)
    • Gazpromneft-Khantos (LLC)
    • Gazprom Neft Shelf (LLC)
    • Gazpromneft-Yamal (LLC)
    • Messoyakhaneftegaz (JSC JV)
    • Gazprom Neft Scientific and Research Centre (LLC)
    • Oil and Gas Company Slavneft (PJSC JV)
    • Tomskneft VNK (JSC JV)
    • Gazprom Neft Badra B.V.
    • Salym Petroleum Development N.V. (JV)
  • Refining

    • Gazpromneft-Moscow Refinery (JSC)
    • Gazpromneft-Omsk Refinery (JSC)
  • Multibusiness Companies

    • Naftna Industrija Srbije (NIS)
  • Marketing

    • Gazprom Neft Asia (LLC)
    • Gazprom Neft-Belnefteprodukt (FLLC)
    • Gazprom Neft-Kazakhstan (LLP)
    • Gazprom Neft Corporate Sales (LLC)
    • Gazpromneft Laboratory (LLC)
    • Gazprom Neft Regional Sales (LLC)
    • Gazprom Neft- North-West (JSC)
    • Gazprom Neft – Tajikistan (LLC)
    • Gazprom Neft-Transport (JSC)
  • Bunkering

    • Gazpromneft Marine Bunker (LLC)
  • Fueling

    • Gazpromneft-Aero (JSC)
  • Lubricants

    • Gazprom Neft-Lubricants (LLC)
    • Gazpromneft Lubricants Italia S.p.A.
  • Bitumen

    • Gazpromneft Bitumen Materials (LLC)
  • Service companies

    • Avtomatika-Servis (LLC)
    • Gazpromneft-Nefteservis (LLC)
    • Gazprom Neft Procurement (LLC)
    • Gazpromneft Energoservis (LLC)
    • ITSC (LLC JV)
    • Gazpromneft-NoyabrskNefteGazAvtomatika (LLC)
    • Noyabrskneftenazsvyaz (LLC)
  • Other Operations

    • Lakhta Center
  • Company
    • Gazprom Neft at a Glance
    • Development Strategy
    • Our History
    • Our Business
      • Our Business Overview
      • Business Model
      • Exploration and Production
        • Petroleum Exploration and Production Overview
        • Resource Base
        • Exploration
        • Oil and Gas Production
        • New Key Fields
        • International Projects
      • Refining
        • Oil Refining Overview
        • Omsk Refinery
        • Moscow Refinery
        • NIS Refining Complex
        • Oil Refining at Third-Party Refineries
      • Sales of Oil Products
        • Sale of Petroleum Products Overview
        • Filling Station Network
          • Gas Engine Fuels
        • Marine Fuels
        • Aviation Fuel
        • Engine Oils and Lubricants
        • Bitumen Products
        • Petrochemicals
        • Electronic Trading in Petroleum Products
      • Export
    • Management
      • Board of Directors
      • Management Board
      • Internal regulations
    • Where We Work
    • Gazprom Neft Subsidiares
    • Contacts
      • Feedback
        • Fraud warning
        • Anti-Fraud and Anti-Corruption Hotline
          • Hotline feedback form
  • Products and Services
    • B2C
      • Filling Station Network
      • Loyalty Program
      • Automotive fuel G-Drive
      • Engine Oil
    • B2B
      • Motor Fuel
      • Fuel Cards
      • Aviation Fuel
      • Lubricants
      • Bunkering
      • Bitumen Products
      • Other Oil Products
    • Our Brands
  • Technologies
    • Strategy
    • Exploration
    • Drilling
    • Production
    • Oil refining
    • Oil products
    • Energy and power
    • Partnership
  • Investors
    • Gazprom Neft at a Glance
    • Key Data
    • Share Data
    • News and Reports
    • Analyst Center
    • Calendar
    • Disclosure Information According to Russian Legislation
    • Corporate Governance
    • Retail Shareholder Information
    • Shareholders Meeting
    • Contacts
  • Newsroom
    • News
    • Interviews
    • Social Media
    • Video
    • Gallery
    • Contacts
    • Glossary
  • Social Responsibility
    • Gazprom Neft Corporate Responsibility Program
    • Corporate Social Responsibility (CSR)
    • Environment
      • Environmental management
      • Atmosphere
      • Hydrosphere
      • Litosphere
      • Biosphere
    • Industrial Safety and Occupational Health
      • Policy and Management
        • Corporate Industrial Safety Policy
      • Safety Culture
      • Occupational Health
      • Goals and Results
      • Risk Management
    • Energy Conservation and Efficiency
    • Support and Development for Employees
      • Working with Young Specialists and Cooperation with Higher Education Institutions
    • Engaging with the peoples of the Far North
    • Responsibility in Sustainable Development
    • Gazprom Neft Cup
    • Bolshoi festival of russian music
    • Supporting Professional Sport
  • Careers
    • Working with us
    • News
    • Interviews
    • Personal Development Programs
    • Graduates and Students
    • A Day in the Life
    • Success Stories
  • Tenders
  • Main page
  • Newsroom
  • News

Gazprom Neft Board of Directors Reviews the Company's Strategic Development

27 november 2017, press release

The Gazprom Neft Board of Directors has reviewed updated information on the implementation of the company’s strategic development to 2025.

The company’s current long-term development strategy was approved in 2013. That document outlines the pathway for achieving strategic objectives in key business sectors — hydrocarbon production, oil refining and the sale of oil products — in the light of changing market conditions and global economics. In which context, the company’s overriding objective to 2025 is to increase the shareholder value, through the effective use of the company’s resource base as well as through bringing new oil reserves into production more extensively, developing new sources of business growth, and maximising returns on investment in new projects.

Gazprom Neft is committed to increasing hydrocarbon production volumes to 100 million tonnes of oil equivalent (mtoe) per year to 2020, and to maintaining that level thereafter. The reserves-to-production ratio is expected to be maintained at a level of at least 15 years. Annual refining volumes across the company’s Russian assets will total 40 million tonnes, with a conversion rate of 95 percent, and a light-product yield of 80 percent. In terms of the sales of oil products, Gazprom Neft’s core objective is to sell 100 percent of all output from its Russian refineries through its own sales channels.

Gazprom Neft’s business development throughout 2017 was fully consistent with the long-term plans and objectives outlined under the company’s strategy.

Priority areas of activity in exploration and production remained optimising profitability in bringing new reserves into the company’s resources base, through the implementation and dissemination of new technologies; maintaining market leadership in liquid hydrocarbon production in the north of the Yamalo-Nenets Autonomous Okrug; establishing new production centres in the Russian Federation beyond 2020, as well as creating growth centres based around unconventional reserves — particularly through the development of the Bazhenov Formation; developing international projects; and by further strengthening the company’s position on the Russian Continental Shelf. Gazprom Neft has continued increasing production at major new projects, and is working towards establishing new sources of growth in the long term.

In refining, the company is focussed on further strengthening its market-leading status in operational efficiency and continuing the implementation of its modernisation programme, allowing Gazprom Neft to ensure its refineries meet global standards in terms of both technological performance and environmental and energy-efficiency. Construction of a crude vacuum distillation unit (CDU/VDU) and a packaged hydrogen production unit continued at the Omsk Refinery in 2017 as part of its ongoing modernisation. Major projects in deep refining, based around hydrocracking and delayed coking processes, have gone into construction, with a start made on the construction of wastewater treatment facilities. Gazprom Neft completed construction of the Moscow Refinery’s “Biosphere” biological treatment facilities, while a “Euro+” combined oil refining facility is now in active construction. The Downstream Efficiency Control Centre, directed at improving efficiency and unique to the industry, went into operation in St Petersburg in 2017.

The Gazprom Neft Board of Directors has taken the decision to exclude the company’s development of refining volumes internationally as a benchmark. This is the result of changes to the macroeconomic environment: the market situation being marked by increasing international competition in recent years, significantly reducing demand for oil products on the European market, which is significantly reducing the profitability of potential investments in refining abroad.

Gazprom Neft has also continued moving towards achieving its strategic objective of ensuring 100 percent of its Russian refinery products are sold through its own retail channels, covering the entire value chain. Gazpromneft-Aero’s (operator of the Gazprom Neft aviation refuelling business) directly-owned retail network has increased to 53 units, with the total number of airports at which it has a presence increasing to 249. A new brand of marine lubricants — Gazpromneft Ocean — was introduced to the markets of the Russian Federation and Asia Pacific region, while production and sales of high-technology bitumen materials were also up. The Gazprom Neft retail network now encompasses 34 regions throughout Russia, and four countries of the CIS, with 1,229 filling stations expected to be in operation across the Russian Federation by the end of 2017.

The Gazprom Neft Board of Directors also considered information on the implementation of company strategy on developing the company’s resource base.

Current strategy vis-à-vis developing the resource base was approved by directors in May 2016, the key priority of which is to guarantee Gazprom Neft has the resources to achieve the strategic target of producing 100 mtoe per year by 2020 and maintaining that level thereafter, guaranteeing the proved (1P) reserves-to-production ratio of at least 15 years.

The key areas of the company’s work in developing the resource base over the next five years remain in force: the main objective for Gazprom Neft in this area remaining organic and inorganic growth, the search for development opportunities in new regions, the company bringing more Gazprom PJSC oil assets into development, participating in more licensing rounds and transactions to acquire assets on the market, developing the reserves of the Bazhenov Formation, investigating other kinds of non-traditional reserves, and continuing geological prospecting on the Russian Continental Shelf.

The company successfully completed a programme of geological prospecting works throughout 2016 — 2017, which allowed the company to open up seven new oil and gas fields, including the Neptune field on the continental shelf of the Sea of Okhotsk (the Ayashsky licence block), with initial reserves in place estimated at 255 mtoe. The average size of discoveries in 2016–2017, moreover, reached 26 million tonnes in potential production volumes — a manifold increase in comparison with 2010–2015. These achievements are largely due to implementing new approaches and technologies in geological prospecting works.

Usage rights to three licence blocks belonging to Gazprom PJSC were reissued in 2016–2017, with a further six licence blocks in open acreage being acquired. In addition to this, Gazprom Neft entered into a joint venture with Spain’s Repsol, which is to develop assets in the Karabashsky zone, and includes seven exploration and production licences in the Khanty-Mansiysk Autonomous Okrug.

Tags: management, strategy, production, sales, filling stations, refining, aircraft fuelling
  • Print version
  • Share
    • Facebook
    • Vkontakte
    • Twitter
    • Pinterest
    • Google+
Tools
  • Share
    • Facebook
    • Vkontakte
    • Twitter
    • Pinterest
    • Google+
  • Print version
  • Noticed an error?
  • RSS
  • Feedback
  • Add to favorites
  • Subscribe
Hide Expand

Contacts for Media

Gazprom Neft Press Office:

+7 (495) 777-3143 (Moscow)

+7 (812) 648-3143 (St Petersburg)

pr@gazprom-neft.ru

Related news

  • Gazprom Neft introduces digital energy standards in its refining operations
    15 February 2019 news
  • Gazprom Neft’s construction of a catalyst plant in Omsk endorsed by the Government of the Russian Federation
    14 February 2019 news
  • Gazprom Neft to supply high-tech bitumens and lubricants to the Kurgan Oblast
    14 February 2019 news
  • Gazprom Neft continues the development of its Yamalo-Nenets production cluster
    29 January 2019 news

Useful Links
Filling station locator
Fuel cards
Loyalty programme
Vacancies
Site Map
Social network
Facebook
Vkontakte
YouTube
Instagram
Contacts "Gazprom neft"
8 800 700 3152
(toll-free call all over Russia)
Feedback
All contacts
Contacts Filling station
8 800 700 5151
Filling station Help Center
(toll-free call all over Russia)
Disclosure of information on the company's website
Disclosure of information on the “Interfax” website
© Gazprom Neft PJSC, 2006-2019
If you notice an error on this page, please let us know: