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Gazprom Neft Started Implementation of Long-Term Development Strategy

The Management Board of JSC Gazprom Neft approved the company development strategy till 2020. The company will start its implementation and development of functional and product strategies.

According to the developed strategy JSC Gazprom Neft will increase oil production up to 90-100 million tons per year by 2020 taking into account of subsidiaries, oil fields of JSC Gazprom and new acquisitions in Russia and abroad. Oil refining will make 70-80 million tons by 2020, and the marketing network will be expanded to include up to 5 000-5 500 filling stations. The volume of oil products sales through own network of filling stations should make about 12 million tons per year by 2020.

In the long run, Gazprom Neft intends to develop its operations abroad. In particular, the countries of Europe, Asia-Pacific Region and the USA are of the strategic interest for the company.

Moreover, Gazprom Neft intends to expand its presence in Russia as well. The Western Siberia will remain the key region here and the role of the Eastern Siberia and the Nenets Autonomous District will increase.

The approval of the long-term vision and long-term strategy of the company became the basis for divisions and units to work over the strategic business plans. Divisional strategies in the various segments of the company activity are now being developed. In addition, the management of Gazprom Neft started development of functional strategies for HR, IT, etc. The approval of draft functional and product strategies will be the next stage in the implementation of JSC Gazprom Neft plans to improve the efficiency of business processes.