Geological exploration and production

Strategic objectives

100 mn TOE of hydrocarbon production
At least 15 years availability of proven reserves (TPTP (Total Proved). /production)
100 % annual replacement ratio of proven and probable reserves (2P category2P (Proven and Probable).) excluding acquisitions

Dynamics of key indicators

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

Gazprom Neft PJSC intends to increase hydrocarbon production to 100 million TOE per year by 2020 and continue to increase production 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 utilizing the best practices for optimizing field development, reducing the cost of proven technologies as well as acquiring and introducing new technologies.

The strategy involves the establishment of a new production centre in the north of the Yamal-Nenets Autonomous District (YNAD). 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 2017

  • The Neptune field was discovered on the shelf of the Sea of Okhotsk
  • The Company acquired a 25.02% stake (with the right to increase the stake to 50%) in Evrotek-Yugra, which owns seven licenses for the exploration and production of minerals in the Khanty-Mansi Autonomous District (KMAD)
  • The Otdelnoye field in YNAD was put into commercial operation
  • Pilot oil production was launched from the Achimov deposits of the Severo-Samburgskoye field
  • The Alexander Zhagrin (KMAD), Novozarinskoye (Orenburg Region) as well as the Kumane and Begeytsi-X (Serbia) fields were discovered