Novatek might appoint Gazprom Neft exec Vadim Yakovlev first deputy CEO - paper

MOSCOW. Nov 20 (Interfax) - Former Gazprom Neft first deputy CEO Vadim Yakovlev might be appointed to the same position at Russian gas company Novatek , national daily Kommersant reported on Wednesday, citing three sources.

Yakovlev, who held management positions at oil company Gazprom Neft for 17 years, is seen as one of the top professionals in the oil and gas industry and is expected to be an asset to Novatek, which is in the process of reconsidering its strategy, the paper said.

Novatek no longer discloses information about its senior management, but it was reported in 2023 that the company's first deputy CEO was Lev Feodosyev.

Yakovlev will oversee Novatek's core operations, including exploration, production and processing, Kommersant said. Novatek refrained from commenting on the reported appointment and Yakovlev could not be reached, the paper said.

Yakovlev worked at oil company Yukos from 2001 to 2004 and at divisions of petrochemical group SIBUR in 2005-2006.

He joined Gazprom Neft as deputy head of economics and finance in 2007, was promoted to CFO and first deputy CEO in 2010 and became head of exploration and production at the company in 2011. He left Gazprom Neft in April 2024, after the company began reforms that were supposed to make its management structure similar to that of parent company Gazprom .

Market insiders said Yakovlev was one of Gazprom Neft's key senior executives, who managed to double the company's production to 100 million tonnes, making it Russia's third largest oil producer.