The Gazprom Group’s strategic goal in the oil business is to maintain its status as a major international oil and gas company through effective management of the asset portfolio across the entire value chain and the use of cutting-edge process solutions, with a view to maximizing the financial results while complying with high standards of social and environmental responsibility.
Gazprom Neft accounts for the bulk of the Gazprom Group’s oil production. The key objective of Gazprom Neft in the period up to 2030 is to evolve into a next-generation company serving as a model of efficiency, technological effectiveness and safety for other oil companies of the world.
Strategic priorities until 2030:
- to ensure that the production of liquid hydrocarbons keeps growing at or above the market rates;
- to maximize value creation for each barrel through effective management of the entire value chain;
- to achieve leadership in returns on capital employed through effective management of the project/asset portfolio with a focus on profit maximization;
- to become a leader in terms of efficiency, technological effectiveness and safety, setting the benchmark for other industry players worldwide.
Exploration and production
- to provide for the efficient development of the mature resource base;
- to develop the resource base of the Yamal Peninsula;
- to bring into development and monetize the uniquely vast liquid hydrocarbon reserves in the Nadym-Pur-Taz region;
- to establish a hydrocarbon production center in the Sea of Okhotsk;
- to devise a technology for cost-effective development of the Bazhenov suite, as well as the Domanic and Paleozoic deposits;
- to bring into development the remaining recoverable reserves that are currently unprofitable by creating and deploying new technologies;
- to prepare the resource base to support production after 2025.
- to provide for the efficient development of the mature fields and execute the enhanced oil recovery program;
- to take steps for further exploration of blocks in the Sea of Okhotsk;
- to commence the first-ever development of the oil rims, as well as the Achimov and Neocomian-Jurassic deposits in the fields of the Gazprom Group;
- to create a technology for cost-effective development of hard-to-recover hydrocarbon reserves.
Logistics, refining and marketing
- to increase refining depth and yield for light products;
- to enhance the efficiency and technological effectiveness of refining and marketing;
- to improve conventional business sustainability through developing petrochemical activities;
- to maintain leadership and enhance market shares in the existing and new markets for the company’s products.
- to continue the modernization programs and capacity expansion across refineries;
- to keep expanding the product range and developing the sales infrastructure;
- to build a catalyst production plant.