The volume of hydrocarbons extracted by the Company increases each year, thereby making it possible to meet the market’s demand for oil and gas. The growth in production can be attributed to the large-scale development and introduction of innovations. The Company has increased production at mature fields in Western Siberia and introduced a new brand of Arctic crude oil — ARCO — to the international market from the Prirazlamnoye and Novy Port fields. Gazprom Neft continues to study opportunities to extract hard-to-recover and unconventional reserves. A balanced project portfolio helps to effectively manage production in rapidly changing market conditions.
The Company refines roughly 80% of the crude oil it extracts and remains one of the industry leaders in this regard while reliably meeting the demands of the domestic market. The high proportion of refining is a significant factor in ensuring the Company’s economic efficiency. The Company achieves such results by continuously improving its operating efficiency, modernising oil refineries and implementing projects to increase the depth of refining and produce light petroleum products. Production facility modernisation programmes enable the Company to not only enhance the quality of its products, but also improve the environmental performance of motor fuels as well as minimise the environmental impact of its refineries. One promising area for the Company’s development is the design of innovative catalysts and processes for processing raw hydrocarbons.
The Company has a reliable high-margin sales network to sell petroleum products to industrial consumers and motor fuel via retail and small wholesale channels. Gazprom Neft has separated the following premium businesses: the sale of jet fuel, lubricants, bituminous materials and petrochemical products as well as bunkering.