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Gazprom Neft Formed an Enterprise for Managing its Oil Services Assets

In September JSC Gazprom Neft set up a new company – CJSC Gazprom Neft-Nefteservice – for managing its oil services assets.

Setting-up of a managing company is necessary for enhancing performance and streamlining services of the oil service companies, cost analyzing and monitoring of services rendered, ensuring sustained and dynamic business operation of service companies, increasing of investments efficiency and creating of competitive oil services centers.

Shortly, Gazprom Neft –Service intends to formulate, coordinate and adopt a corporate strategy for development of the Gazprom Neft oil-related services business.

Later, main lines of approach to further development of the Gazprom Neft oil services enterprises will be determined. One of the options available may involve transformation of the managing company into a full-fledged oil service enterprise.

Notes for editors

At present, there are 17 oil services companies affiliated with JSC Gazprom Neft all of which are 100% subsidiaries of JSC Sibneft-Noyabrskneftegaz.

The oil services companies render a full range of services to oil and gas producing enterprises of JSC Gazprom Neft.