Arctic gas boosts Gazprom Neft
The Russian producer looks on track to achieve its production growth targets
Gazprom Neft posted a 5.5pc year-on-year increase in its oil and gas production in the first half of 2019, leaving it well placed to meet its stated growth ambitions. Surging output from its Arctic gas fields was a major driver. Hydrocarbon production in the quarter grew to 1.94mn bl/d oe, which the firm attributes to higher yields at its Novoport and Messoyakha projects beyond the Arctic Circle. Output gains at Gazprom Neft's Arcticgas joint venture and the recently-launched Tazovskoye field in western Siberia also played a role, says Maxim Khudalov, director at Moscow-based ratings agency Acra. Liquids output grew by only 1.8pc year-on-year in the first half, as Moscow's commitments under
Also in this section
22 May 2025
The next energy crisis could come from the severing of the link between oil and gas prices, with potentially severe economic consequences
22 May 2025
With contract awards looming on the Kuwait-Saudi backed Dorra field, the long-stalled gas project appears finally to be gaining traction—despite Iranian objections
21 May 2025
From the upstream sector to the end-users, gas is no longer seen as a transition fuel or an afterthought, executives told attendees at the World Gas Conference
21 May 2025
Integrated refining and petrochemicals company highlights strategic flexibility amid trade war risks and long-term planning to futureproof business, says CEO Prabh Das
