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Gazprom Neft takes part in Russian Energy Week

Gazprom Neft has taken part in Russian Energy Week, held in Moscow from 3 — 6 October, with the company’s senior management presenting as experts and speakers at key events throughout the forum, discussing the outlook for the energy market and industry, and acquainting participants with Gazprom Neft’s main areas of development.

Alexander Dyukov, Chairman of the Management Board, in an interview with TV channel Russia 24, outlined the current situation on the oil market as well as key trends, noting that the oil price, for now, remains at a reasonably high level, and that any collapse is unlikely in the short term. In the current situation, according to Dyukov, the company will be able to secure additional income, which might reasonably be expected to be allocated to dividend payments and investment in further new projects, benefiting the Russian economy, as a whole. In particular, the Gazprom Neft chief noted, dividends for 2018 are likely to be significantly higher, at 35 percent of net profit. He cited the company’s decision to develop Arctic fields as an example of effective investment, resulting in Arctic production reaching 27 percent of the company’s total oil output in the first eight months of 2018. Alexander Dyukov also outlined a range of projects being implemented by the company, including the development of new technologies, and, specifically, digital technologies.

Vadim Yakovlev, First Deputy CEO, Gazprom Neft, presented during the “Investing in Energy: New Opportunities” session, outlining the company’s main areas for development over the next few years. According to him, Gazprom Neft is adhering to plans for production to reach 100 million tonnes of oil equivalent (mtoe), with plans to increase this in line with growth in the oil industry. In particular, investment priorities over the next three years will be projects in Yamal, as well as increasing activity in the north of the Yamalo-Nenets Autonomous Okrug. In the long term, the company will be placing its bets on the development of shale projects, predominantly in developing Achimovsky deposits, and is already developing existing technologies and competencies in this area.

Vadim Yakovlev, First Deputy CEO, Gazprom Neft, presents at Russian Energy Week, St Petersburg, 03.10.18.

Andrey Belevtsev, Chief Digital Officer, Gazprom Neft, presented during the “The Digitalization of Energy: from Local Solutions to Transforming the Industry” session, outlining how the company’s organisational, operational and business processes are changing in line with the opportunities created by digital technologies. According to Belevtsev, digital transformation improves technological adaptability and performance as well as efficiency, allowing the company to increase its flexibility not just in the construction of major projects, but also in terms of integrated asset management and moving closer to fully integrated value-chain management. As he pointed out, Gazprom Neft has now accumulated a portfolio of 500 digital projects, and 15 major transformation programmes.

Gazprom Neft took an active role in events during Russian Energy Week, 3 – 6 October, St Petersburg

As part of the “Geopolitical Scenarios and the Fuel and Energy Complex: The New Reality” session, Sergey Vakulenko, Head of Strategy and Innovation, Gazprom Neft, outlined potential scenarios within the global oil industry, subject to decisions by OPEC and the policies of major global powers, noting that by the end of this year Gazprom Neft plans to offer a new angle on the company’s development strategy, in line with various trends including changes in society, technological progress, changes in fuel demand and consumption patterns, and a range of other factors.

Alexey Govzich, Executive Director for New Technologies, Gazprom Neft Science and Technology Centre, during the “Increasing the Efficiency of Oil Production: Responding to the Challenges” session, gave participants an insight into successful experience in applying new methodologies at the depleted Zapadno-Salymsky field where, with the help of polymer-surfactant flooding, the oil recovery factor (ORF) has increased to 69 percent — almost double the Russian oil-industry average. According to him, this technology will make possible approximately 40,000 million tonnes of additional production at Gazprom Neft’s assets alone by 2030 — albeit opportunities for its wider usage are limited by the current tax regime. In which context, company specialists have prepared proposals for economic incentives for enhanced oil recovery methodologies, currently under discussion with the relevant agencies.