Gazprom Neft reduced investment program by 27% in 2015

​Capital investment of Gazprom Neft in 2015 fell by 27% to $6.1 bln against $8.3 bln in 2014.

Out of the total investment volume in 2015, $2.3 bln was invested into brownfields, $2.1 bln –into greenfields, $0.6 bln-into oil processing, $0.3 bln-marketing and distribution, $0.1 bln –new projects.

The forecast investment without the stake of JVs in 2015 was reported to reach 343 bln roubles.

In 2015 Gazprom Neft extracted 79.9 mln ton of oil equivalent against 66.3 mln tons of oil equivalent in 2014 (+20.2%). Oil processing in 2015 fell to 43 mln tons against 43.5 mln tons in 2014 (-1.15%).

Probable and proven PRMS reserves as of the end of 2015 are slightly higher than in 2014 (in 2014 – 2.555 bln tons of oil equivalent). In November the company forecast that by the end of 2015 its reserves would grow by 6% to 2.708 bln tons of oil equivalent.

The company sticks to its plans on the extraction growth by 2025 to 100 mln tons of oil equivalent, oil processing in 2025 will make up 40 mln tons, output of light oil products will grow from 62% in 2015 to  80% in 2025, processing efficiency will from 81% to 95%.