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Home / Issue Archive / 2010 / June #6 / Gazprom Neft Plans to Double Production To 100 Million Tons By 2020

№ 6 (June 2010)

Gazprom Neft Plans to Double Production To 100 Million Tons By 2020

Gazprom Neft produced 50.2 million tons of oil in 2009, Gazprom Neft Management Chair Aleksandr Dyukov said during the company's annual shareholders' meeting. "This means we have cleared the psychological 50 percent boundary", Dyukov added.

By Elena Zhuk

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The company invested 63 billion rubles into exploration and production in 2009 (not counting acquisitions). These funds were spent on base production, seismic surveys, developing new fields, associated petroleum utilization projects and the oil fields services business.
Dyukov remind shareholders that according to the Exploration and Production Strategy Through 2020 adopted by the company lsat year, Gazprom Neft intends to double production by 2020 to 100 million tons.
In answering a question from journalists on the raw material base Gazprom Neft intends to use to to achieve its ambitious plans, Dyukov said the company would accomplish its goals "foremost by increasing production at fields which are being worked today – at the Messoyakhinskoye and Kuyumbinskoye fields - as well as with new acquisitions and business growth abroad. "We plan to see at least 10 percent growth in production from foreign projects", Dyukov said.
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