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26.04.2012

Gazprom To Increase Oil Production By 48.4 Per Cent To 80 Million Tons By 2020

The Gazprom Board of Directors met and approved work done within Gazprom's Oil Business Strategy, with Gazprom Neft being primarily responsible for this sector.

Board members noted that between 2006 and 2011, annual oil production by the Gazprom Group (accounting the oil volume produced by affiliates and joint ventures, in proportion to the ownership stake) increased by 18 per cent – from 45.6 to 53.9 million tons. Such growth in volumes has been achieved through development of the existing oil assets and acquisition of stakes in the new ones.

Gazprom to increase oil production by 48.4 per cent to 80 million tons by 2020

The aggregate А+В+С1+С2 oil reserves of Gazprom Group exceed 3 billion tons as of January 1, 2012

Compared to 2010, in 2011 the refining volumes of Gazprom Neft increased by almost 7 per cent to 40.5 million tons and the sales via the premium segments increased by more than 37 per cent – to 19.55 million tons.

Copyright 2012, Gazprom. All rights reserved.

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