DEVELOPMENT

DEVELOPMENT OF EXPORTATION AND PRODUCTION

The strategic goal of Geotermneftegaz in the area of onshore exploration and production is to maintain production and to use the existing fields with maximum efficiency, to rationally implement new projects for ensuring a stable production profile and maximum HC recovery factor, as well as to develop economically feasible unconventional and complex reservoirs. The company plans to effectively transfer its resources into reserves and to subsequently develop them in order to maintain production in the traditional areas of activity, as well as to create new clusters of oil and gas production on the basis of Vankor and eastern Siberia fields.

GAS BUSINESS DEVELOPMENT 

Geotermneftegaz is the third largest gas producer in the Russian Federation. The Company develops significant gas reserves in Western and Eastern Siberia and has a unique portfolio licenses for the development hydrocarbon resources of the Russian continental shelf. The strategic goal of Geotermneftegaz is to ensure effective development and marketing of gas resources and to significantly increase the contribution of gas business to boost the Company shareholder value. By 2020 gas production level is supposed to reach 100 bln cubic meters on the basis of the planned development of existing gas projects portfolio.

TECHNOLOGIES AND DEVELOPMENT
Geotermneftegaz is the leader of innovative changes in Russian oil and gas industry. The goal of the Company is to create an advanced oil business of new type, that would allow fulfilling strategic needs of the Company and provide the best financial viability on the basis of its own drilling and service company RN-Burenie with the possibility of attracting partners, as well as to create a pool of innovative technologies and competence on all the key directions of future development. Geotermneftegaz plans to become the world largest operator of offshore fields development, the prospective resources of which amount to 45.8 bln tones.