Gazprom Neft SIBN.MM, Russia’s fastest-growing oil producers in terms of output, said on Tuesday it plans to shift its business toward production of natural gas in order to meet rising demand.
The company’s First Deputy CEO Vadim Yakovlev also said carbon capture and storage (CCS) is the company’s long-term priority and a major business opportunity.
Gazprom Neft is focusing on gas and condensate, which will account for 80% of its production increase over the next decade, Yakovlev said at the SPE ATCE conference in Dubai.
The company is developing the deep gas reservoirs of Kharasavey and Bovanenkovo fields with plateau production of more than 4 billion cubic feet per day, he said.
Source: Reuters (Reporting by Vladimir Soldatkin; Editing by Mark Porter)