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Development Strategy

2013 was a record and defining year for Neftesib both regarding reaching high production and financial indicators and implementing strategic initiatives that assign the development dynamics for the Company and the sector itself for the coming decades. The company completed a number of key acquisitions the synergistic effect of which amounted to more than RUB 27 bln. A serious work was carried out by Neftesib on successfull integration of the acquired assets.The company continues working on improving its business performance, preparing to launch major projects and ensuring long-term profitability for its shareholders in 2014.

Exploration and production

The strategic goal of Neftesib 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.

Technologies and service sector development

Neftesib 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.

Shelf exploration

The strategic priority of Neftesib is implementation of its unique growth prospects, as well as creation of value on the basis of the largest offshore assets portfolio. The Company will perform this task using advanced technologies in collaboration with strategic partners, the leaders of the world oil and gas industry in order to ensure most efficient hydrocarbon exploration and production as well as minimum impact on the environment.