The key areas in Gazprom Neft’s resource base development strategy include organic growth of existing assets, development of oil assets owned by Gazprom PJSC, investigating and bringing non-traditional reserves into commercial development, and proactive geological exploration at new prospecting zones and offshore.
The condition of the company’s resource base is characterised by the deteriorating structure of its remaining commercial reserves, as the majority of fields are entering their late stage of development. The efficiency of developing these fields is improved through the use of advanced drilling and
The company’s reserves are audited in accordance with the SPE-PRMS standards and the more conservative
Gazprom Neft’s reserves-to-production ratio in terms of proved hydrocarbon reserves (SPE-PRMS standards), including the company’s interest in joint operations and joint ventures, currently stands at 17 years. Total hydrocarbon production in 2019 was offset by new reserves (including acquisitions) in the order of 120%.
|Enterprise||Proved reserves (2018)||Hydrocarbon production||Exploration, development and revision of prior estimates||Asset swap||Proved reserves (2019)|
|Salym Petroleum Development||22.95||(3.25)||3.54||–||23.24|
|Messoyakhaneftegaz (joint venture)||16.32||(2.81)||2.66||–||16.17|
In 2019, as part of an asset swap deal with NOVATEK, Gazprom Neft obtained a 100% shareholding in NOVATEK-Yarsaleneftegaz, which owns the Malo-Yamalsky licence block in the Yamalo-Nenets Autonomous Okrug. The new asset will be included in the “Yamal Gas” project.
In 2019, Gazprom Neft also secured access to field development at a number of further licence blocks belonging to the Gazprom Group. Gas production at the Bovanenkovskoye field began several years ago and full-scale development of the Kharasaveyskoye field started in 2019. To date, however, transport infrastructure for liquid hydrocarbons remains missing at both these fields.
Furthermore, in 2019, Gazprom Neft went into two new prospecting areas: the Taymyr Peninsula (in the Dolgano-Nenetsky District in the Krasnoyarsk Krai) and the north of the Tazovsky Peninsula. These two regions are marked by very limited levels of geological investigation and are relatively remote from transport and oil and gas infrastructure. The company obtained subsoil rights on a declarative basis for geological prospecting at 12 licence blocks in the west of the Taymyr Peninsula, and also won bidding rounds for the Severo-Yamburgsky licence block, which allowed the company to create a new potential opportunity for growth in the north of the Tazovsky Peninsula (YaNAO).
|Region||Number of licences||Licence blocks|
|Krasnoyarsk Krai||13||Zapadno-Taymyrsky blocks 1–12, Omorinsky|
|Khanty-Mansi Autonomous Okrug-Yugra, Sverdlovsk Oblast||8||Severo-Vaysky, Srednevaysky, Polevoy, Severo-Ingolsky, Vostochno-Kinyaminsky, Vostochno-Shapshinsky 1, Sverdlovsky 4, Yuzhno-Ostrovnoy|
|Yamalo-Nenets Autonomous Okrug||6||Severo-Stakhanovsky, Novoromanovsky, Pukhutsyayakhsky, Blizhnenovoportovskoye field, Yuzhno-Obsky, Malo-Yamalsky|
|Orenburg Oblast||4||Nadezhdinsky, Zapadno-Rubezhinsky, Kornavarinsky, Pervomaysky|
Overall, in 2019, the company secured exploration and production rights to 32 new licence blocks in the Yamalo-Nenets and Khanty-Mansi Autonomous Okrugs, and other regions. The total number of licences held by the company in Russia reached 215 (including seven offshore licences). Three new fields were discovered across Gazprom Neft’s concessions (in the Orenburg and Tomsk Oblasts) and were recorded in the Russian State Mineral Reserves Register. The company also confirmed the oil- and gas-bearing potential of 48 new hydrocarbon deposits. This expansion of the company’s resource base was facilitated by successful geological prospecting activities at the Alexander Zhagrin field in the Khanty-Mansi Autonomous Okrug, and at assets in the Yamalo-Nenets Autonomous Okrug, Orenburg Oblast, and the Krasnoyarsky Krai.
In 2019, the company not only actively developed cooperation with existing partners, but also entered into dialogues on a broad agenda with other companies.
By building partnerships, the company seeks to gain a wide range of benefits, including risk and investment sharing, obtaining or jointly developing new technologies, accelerating return on capital, and more. In addition to this, cooperation with other companies enables Gazprom Neft to replicate successes it has had in its other projects.