Gazprom Neft intends to approve strategy to 2025 this year
MOSCOW. Feb 26 (Interfax) - Gazprom Neft intends to approve its strategy for the period until 2025 this year, the company's First Deputy General Director Vadim Yakovlev told reporters.
He noted that this strategy will not place the main emphasis on revising the company's key goals.
"Our strategy until 2020 was previously adopted, and now we are looking more beyond the 2020 horizon, particularly given the timing of our current projects. We are focusing our attention on how to reach our identified goals," he said.
Gazprom Neft had earlier planned to produce 100 million tonnes of oil equivalent (hydrocarbons) by 2020, with 40 tonnes of refining.
The company is reconsidering its target regions in Russia. For example, it understands that the Nenets Autonomous District does not have strategic prospects, so it will set its sights on developing activities in Orenburg, Yakovlev said.
New prospects have also opened up in foreign regions. Gazprom Neft intends to concentrate on the Middle East, where it will seek opportunities for business expansion. The company is also interested in North Africa "and several other countries," he said.
"We have a sufficient resource base to reach production of 100 million tonnes. But there are a lot of risks, particularly partner risks, and we want to evaluate everything," Yakovlev said.
Gazprom Neft is working on bringing the oil rim reserves at Gazprom's gas fields onto its own balance sheet, which will affect the quantity of oil that it produces, he said.