Geological exploration work and production

Strategic objectives

KPI for 2025

100 mn TOE hydrocarbon production volume
15 years availability of proven resources (ТР TP – total proven reserves. /production)
100% annual replacement ratio of proven and probable reserves (2P category) excluding acquisitions

Gazprom Neft intends to increase hydrocarbon production to 100 million TOE per year by 2020 and maintain this level until 2025. The Company plans to maintain a 15-year ratio of proven reserves to production. In order to achieve these goals, Gazprom Neft will strive to employ the most cost-effective methods to recover the remaining reserves from the current resource base by utilising the best practices for optimising field development, reducing the cost of proven technologies as well as acquiring and introducing new technologies. Gazprom Neft is considering unconventional reserves as a growth opportunity and will develop this class of assets as a key component of its portfolio.

Milestones of 2016

  • Year-round shipments of oil from the Novoportovskoye field began via the Gates of the Arctic sea terminal
  • Commercial operations were launched at the East Messoyakha field, the northernmost Russian oil field under development
  • Six Arc7 tankers and an icebreaker for their support were launched to support year-round oil shipments from the Novoportovskoye field. The first two tankers were transferred to the Company in September and October 2016

Dynamics of key indicators

Proven hydrocarbon reserves(PRMS-SPE) (mn TOE)
Hydrocarbon production (mn TOE)
2P reserve replacement ratio excluding acquisitions (%)