Report on the Management Board’s work in 2017

The Gazprom Neft Management Board considers matters on a scheduled basis taking into account the decisions of the General Meeting of Shareholders and the Board of Directors as well as matters submitted by the CEO and Management Board members. The Management Board’s work plan is also compiled based on the proposals of the heads of Gazprom Neft structural units.

As one of the tools used to additionally inform members of the Board of Directors about the Company’s performance results, the Charter and Regulation on the Gazprom Neft Management Board provide for MD&A management reports (management’s discussion and analysis of financial conditions and operational results) to be sent to members of the Board of Directors on a quarterly basis.

In 2017, there were 16 meetings of the Gazprom Neft Management Board, including 12 in-person meetings, during which various issues of the day-to-day operations of the Company’s Management Board were considered. The main issues included:

  • the endorsement of transactions to acquire shares in the companies of Resourceoil JSC and Nefteservice JSC and the establishment of Bazhen Technological Centre LLC;
  • the approval of the main provisions of the Offshore Project Development Strategy;
  • the consideration of the concept for attracting partners (investors) to participate in the projects of the Company’s Exploration and Production Unit;
  • the consideration of the activities of the Exploration and Production Unit, the Offshore Project Development Unit, and the Logistics, Processing, and Sales Unit for 2016;
  • information about the implementation of the Investment Programme, the Budget (financial plan), and the Financial Borrowing Programme of the Gazprom Neft Group for 2016 based on the Company’s performance results in 2016 was taken under advisement;
  • the consideration of the business plans of the Production Units for 2018–2020;
  • information about the preliminary results of the implementation of the Investment Programme and Business Plan of the Gazprom Neft Group for 2017 as well as the consolidated business plan of the Gazprom Neft Group for 2018-2020 was taken under advisement.

Statistics on the number of meetings of the Management Board in 2013–2017 Source: Company data
Structure of items considered by the Management Board in 2017 by theme Source: Company data
Participation by Management Board members in meetings in 2017
Name Number of meetings attended by the member of the Management Board Total number of meetings which the member of the Management Board could have attended
A. V. Dyukov
Chairman of the Management Board
16 16
I. K. Antonov 15 16
V. V. Baryshnikov 13 16
A. M. Dybal 14 16
E. A. Ilyukhina 12 16
K. A. Kravchenko 14 16
A. N. Patrushev 15 16
A. M. Cherner 15 16
V. V. Yakovlev 15 16
A. V. Yankevich 16 16