Gazprom Neft joins forces with the Russian Fund for Basic Research (RFBR) in developing innovative technologies

Press-release Technology Partnership

Gazprom Neft and the Russian Fund for Basic Research (RFBR) have agreed to collectively implement projects promoting the technological development of the oil and gas industry, as well as increasing efficiency in the production and refining of hydrocarbons, with Vladislav Baryshnikov, Deputy CEO, Gazprom Neft, and Vladislav Panchenko, Chairman of the Board, RFBR, signing a Cooperation Agreement at this year’s St Petersburg International Economic Forum.

Projects in basic scientific research, the results of which can be used in developing innovative technologies and high-tech industrial products, will be selected on a competitive basis, with an effective evaluation system, based on the RFBR’s experience and that of Gazprom Neft, to be put in place.

Areas for proposed joint research in oil production include work with hard-to-recover reserves, process modelling in oil formations, field infrastructure development, and improving enhanced oil recovery (EOR) techniques. In refining, efforts will be concentrated on fundamentally new approaches to producing fuel components, and to developing hydro-processing and cat-cracking catalysts. The development and implementation of digital technologies, and the use of artificial intelligence in addressing production and managerial challenges, are of particular importance in Gazprom Neft and the RFBR’s plans for collaboration.

Vladislav Baryshnikov, Deputy CEO, Gazprom Neft, commented: “Basic scientific research plays a key role in the development of modern society, and in maintaining the competitiveness of the economy. Gazprom Neft and the RFBR are interested in preserving and expanding their unique scientific and technological potential, and its further use in the country’s development. Targeted financing of scientific developments means these can be made as effective – and meet the needs of the real economy – as far as possible.”

Notes for editors

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.

The Russian Fund for Basic Research (RFBR) was established in 1992 at the initiative of the country’s leading scientists and academics. Its core function is to arrange the competitive selection of the best scientific projects, and their subsequent management and financing.

The RFBR pays considerable attention to establishing a developed system of collaboration between companies involved in innovation, and has Cooperation Agreements in place with federal executive agencies, state corporations, organisations involved in coordinating technology platforms, other development institutions and business organisations.The main purpose of such agreements is to implement coordinated policy in putting achievements and progress in basic scientific research to practical use, primarily in high technologies and in addressing the immediate cross-sectoral challenges that arise in the process of building a knowledge-based economy.