The implementation of Strategy-2030 The implementation of Strategy 2030 will make the company a global benchmark
Gazprom Neft’s development strategy to 2030 sets an ambition to grow ahead of market trends, while maintaining a high level of return on capital employed. The company is determined to consolidate its position in the top league of global public oil companies, and become a benchmark for industry peers in terms of safety, efficiency and technological advancement. 2019 was the first year in which Strategy 2030 was successfully implemented
As a flagship in Arctic development, we are setting ourselves ever more ambitious goals as we move into new geologically and technologically challenging regions, such as the Yenisei Project on the Gydan Peninsula. This is a major challenge and involves the use of unique technological solutions.
The global economic slowdown, trade wars, and increased oil production in the US and elsewhere put oil prices under pressure. The situation has been exacerbated further by the global COVID-19 pandemic and the de facto termination of the OPEC+ agreement in 2020.
The company needs an adaptive product-based operating model as it moves towards becoming a global benchmark in terms of efficiency and technological advancement. That requires changes to its existing business processes, including putting in place flexible cross-functional teams.
Strategy in detail
In 2019, Gazprom Neft’s business development efforts and its short-term plans were in line with the long-term development areas and goals set out in the Strategy.