Gazprom Neft and Sberbank sign Memorandum of Intent

Press-release Partnership

Gazprom Neft and Sberbank have signed a Memorandum of Intent at this year’s St Petersburg International Economic Forum, the signatories to the document being Vadim Yakovlev, First Deputy CEO, Gazprom Neft, and Igor Bulantsev, Senior Vice President, Sberbank CIB.

On the photo (from left to right): Vadim Yakovlev, First Deputy CEO, Gazprom Neft, and Igor Bulantsev, Senior Vice President, Sberbank CIB

The document outlines both parties’ intentions to cooperate in establishing a joint enterprise to ensure the availability of modern drilling equipment and services on the Russian market, as well as in real estate projects allowing the monetization of new areas of activity for Gazprom Neft.

The parties have agreed to confirm all necessary terms of cooperation by the end of 2018.

Vadim Yakovlev, First Deputy CEO, Gazprom Neft, commented: “The signing of this Memorandum opens up a new page in the strategic cooperation between Gazprom Neft and Sberbank Russia. Our cooperation will ensure our production assets and joint ventures are provided with high-technology drilling equipment, improving efficiency as well as having a positive impact on the oil services market, for the entire industry.”


Reference

PJSC Sberbank is the largest bank in Russia, and a leading global financial institution. Sberbank accounts for about a third of the assets of the entire Russian banking sector. Sberbank is a major lender to the national economy, and holds the largest market share in terms of deposits held. The founder and main shareholder of Sberbank is the Central Bank of the Russian Federation, which owns 50 percent of the bank’s authorised capital plus one voting share. The other 50 percent of the bank’s shares are owned by Russian and international investors. Sberbank’s services are used by more than 145 million customers, throughout 21 countries worldwide. The bank has the most extensive branch network in Russia, with about 15,000 service points. The bank’s international network consists of subsidiaries, branches and representative offices in the UK, the USA, the CIS, Central and Eastern Europe, India, China, Turkey and other countries.

General Banking Licence of the Central Bank of Russia 1481.

The bank’s corporate websites are available at — www.sberbank.com (Sberbank Group website), www.sberbank.ru.

Gazprom Neft is a vertically integrated oil company, primarily involved in oil and gas exploration and production, refining, and the production and sale of oil products. The Gazprom Neft’s corporate structure comprises more than 70 production, refining and sales subsidiaries throughout Russia, the CIS, and abroad.

The company’s proved and probable reserves (SPE-PRMS) are estimated at 2.78 billion tonnes of oil equivalent (btoe), making Gazprom Neft one of the top-20 largest oil and gas companies in the world, and one of Russia’s top three largest companies in terms of production and refining volumes. Total production in 2017 reached 89.75 million tonnes of oil equivalent (mtoe), with refining volumes of 40.1 million tonnes.

Gazprom Neft products are exported to more than 50 countries worldwide, and sold throughout the Russian Federation and abroad. The company’s filling station network totals more than 1,850 outlets throughout Russia, the CIS and Europe.

Gazprom Neft’s net profit in 2017 was RUB253 billion — a 26.5-percent increase year-on-year. The company is an industry market leader in terms of both financial growth and various efficiency metrics, including its internal rate of return (IRR).

The company’s main shareholder is Gazprom PJSC, which has a 95.68-percent interest, with the remaining shares in free circulation.