Gazprom Neft mulls new projects
The Russian firm had stellar production growth of late, but it urgently needs to find new resources
Gazprom Neft, Russia's fourth-largest oil producer, is considering more than 10 new exploration projects to ensure that its output after 2020 maintains current record levels. To achieve this, the state-controlled company is looking at different ways to obtain new licence areas, including auctions, joint ventures and acquisitions. Alexei Vashkevich, head of geological exploration, said in Moscow in February that Gazprom Neft's resource base was sufficient to maintain production at the current level of around 100m tonnes of oil equivalent a year by 2020, but that it was essential to acquire new fields to maintain this over the long-term. By the end of this year, the company plans to make an ag
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
