Gazprom Neft, a Russian corporation is engaged in the exploration, production, and distribution of petroleum, natural gas and related products. Gazprom Neft was founded in 1995 as Sibneft. With a reserve of 4 billion barrels of oil, Gazprom Neft is one of the top 20 oil companies of the world. It operates in Chukchi AB, Khmao, Tomsk, Omsk, and Yanao oilfields, and has refineries in Moscow, Omsk, and Yarostavl.
Sibneft ownership was transferred from the hands of the state in 1996 with 49% share going to foreign investors. In 1998, government's holdings of 51% were partially auctioned off. A significant change came in the ownership of Sibneft in 2005, with 50% of its shares being bought by Gazprom. Consequently, the name was changed from Sibneft to Gazprom Neft. Gazprom Neft is part of OAO Gazprom.
Gazprom Neft Structure
The structure of Gazprom Neft is divided into production and specialization subsidiaries. The different divisions of Gazprom Neft are:
- Oil and Gas - Under this division Gazprom OAO has eight companies. OAO Sibneft - Noyabrsknefteqaz, OAO Meretoyahaneflegaz, NK Sibneft-Yugra Limited, and Shinqinskoe Limited are some of them
- Exploration - OAO Gazpromneft - Noyabrsknefleqazqeofizika is engaged in oil exploration.
- Refining - OAO Sibneft - Omsk is responsible
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for oil refining.
- Petroleum Products - OAO Sibneft Omsk, OAO Gazpromneft - Altai, Gazpromneft-OAO Tyumen, Gazprom Oil Company Asia, and OAO Sverdlovsknefteprodukt are some of the petro- product companies
- Oil Exports - The exports of the group are looked after by Gazprom Neft Trading Gmbh
Gazprom Neft Business
The business activities of Gazprom Neft can be categorized into:
- Exploration - Gazprom is licensed to explore 62 sites spread over a total area of nearly 58,300 sq. km (including water area) in 11 regions of Russia
- Extraction - The extraction of crude oil increased from 16.32 million tones in 1999 to 44.36 million tones in 2006
Refining - Gazprom Neft produced 12.457 million tones of refined oil in 1999 which steadily rose to 24.358 million tones in 2006
- Service Companies - The services provided by Gazprom Neft include construction of exploration rigs, renovation of oil wells, maintenance of production and supply set up, geophysical and industrial work, and transportation
Gazprom Neft in Russia is headquartered in 4, Term Lane, Moscow - 119034.
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