16 Sep 2019 15:30

Gazprom Neft approves digital transformation strategy through 2030

MOSCOW. Sept 16 (Interfax) - The Gazprom Neft board of directors has approved a digital transformation strategy, developed consistent with the company's overall development strategy through 2030, Gazprom Neft said in a statement.

"Digital transformation consists of a number of large-scale programs aimed at changing Gazprom Neft technical and operating processes. Their goal is to transition to new management systems, as well as boosting the effectiveness and process safety of assets," the statement said.

The document envisages that by 2030, the company will carry out a twofold optimization of the timeframes and cost of geological exploration while simultaneously improving their quality, will accelerate by 40% the implementation of large-scale oil and gas production projects, and cut production management expenses by 10%. Gazprom Neft is also hoping to achieve a further increase in its operating profit.

"The company's digital transformation process encompasses the whole chain of product value creation. Changes at Gazprom Neft on the basis of new technologies are aimed at boosting the flexibility and effectiveness of business management based on data and digital doubles of assets. The company is developing its own solutions in artificial intelligence, the industrial internet of things, robotics, UAVs and other Industry 4.0 technologies," the statement said.