Company History

1995

Siberian Oil Company (“OJSC Sibneft”) was established by Decree of the President of the Russian Federation. The state acted as the Company’s founder, contributing to its authorised capital portfolio of state-owned shares in some of the country’s largest oil companies: OJSC Noyabrskneftegaz, OJSC Noyabrskneftegazgeofizika, OJSC Omsk refinery and OJSC Omsknefteprodukt.

1996 - 1997

The Russian Government privatised Sibneft as part of a programme to develop the market economy. Private investors bought 49% of Sibneft stock at auctions in 1996. In 1997 the Financial Petroleum Company won the state share in Sibneft at auction, as part of the Government’s Shares for Loans programme.

1998 - 2004

The Company developed rapidly thanks to its high resource potential, efficient refining capacities and professional management. Sibneft management focused on modernising production, introducing the latest technology and optimising business processes. A proactive acquisition policy allowed the Company to expand its production territory rapidly (in the Tomsk and Omsk Regions, and the Chukotka Autonomous District) and its sales network (in the Sverdlovsk and Tyumen Regions, the Krasnoyarsk Territory, and the cities of Saint Petersburg and Moscow). One of the Company’s major purchases during this period was its acquisition of 49.9% of the shares in JSC Slavneft Oil Company, which produced oil and gas in Western Siberia and the Krasnoyarsk Territory.

2005

OJSC Sibneft’s controlling interest (75.68 %) was acquired by Gazprom Group. On May 13, 2006, the Company was renamed Open Joint Stock Company (OJSC) Gazprom Neft. The new strategic objective of Gazprom Neft was to become a global company with regionally diversified assets along the entire value chain.

2006

Gazprom Neft entered the retail market in Central Asia by creating a subsidiary — Gazprom Neft Asia — to sell the Company’s petroleum products in Kyrgyzstan, Tajikistan and Kazakhstan. In the same year, the Company took part in government-level international projects for the first time after becoming a shareholder (jointly with JSC Rosneft and JSC Transneft) in the Burgas-Alexandroupolis Trans-Balkan Oil Pipeline construction project.

2007

Business units were set up within the Company to focus on activities in specific segments: Gazprom Neft Nefteservis, Gazprom Neft Marine Bunker, Gazprom Neft-Lubricants, and Gazpromneft-Aero. In December 2007, in order to further expand its resource base, Gazprom Neft acquired a 50% stake in Tomskneft, a company producing oil and gas in the Tomsk Region and the Khanty-Mansiysk Autonomous District.

2008

Gazprom Neft, Rosneft, Lukoil, TNK-BP and Surgutneftegaz signed a Memorandum of Understanding regarding cooperation and joint participation in projects in Venezuela and Cuba, as part of the National Oil Consortium.

2009

Gazprom Neft acquired new assets for its resource portfolio and refinery capacities: the Serbian oil company, NIS, and a controlling stake in Sibir Energy. This last acquisition increased the Company’s ownership stake in the Moscow refinery and provided access to the Salym oilfields. In April 2009, the Company concluded a deal with Chevron Global Energy to purchase the Chevron Italia S.p.A. oils and lubricants production plant in Bari (Italy). Another significant development for Gazprom Neft was the launch of a large-scale programme for the rebranding of the Company’s filling station chain.

2010

Gazprom Neft expanded its presence in the global oil and gas market. The Company completed a deal to acquire the production division of STS-Service, owned by Sweden’s Malka Oil. Gazprom Neft also signed a contract to develop the Badra field in Iraq, containing more than 2 bn bbl of oil reserves, and became the leader of a consortium of Russian vertically integrated oil companies in a project to develop the Junin-6 oil block in Venezuela. That year, it also joined, on a production sharing basis, an offshore project in Equatorial Guinea at a geological exploration stage, and acquired stakes in an offshore geological exploration project in Cuba. Gazprom Neft joined a project to develop fields under a development licence held by SeverEnergia (via subsidiaries). A retail filling station chain was acquired in Kazakhstan. The Company also commissioned two Cenomanian gas deposits at the Muravlenkovskoye and Novogodneye fields in Russia.

2011

Gazprom Neft improved its operating performance substantially by purchasing new assets and increasing the efficiency of existing fields. The Company purchased 5.15% of NIS shares, bringing its stake to 56.15%, and became the sole shareholder of Sibir Energy; it also acquired the Tsarichanskoye and Kapitonovskoye fields in the Orenburg Region, as well as the eastern part of the Orenburgskoye field. The Company started drilling at the Badra field in Iraq. This year was also marked by highly successful oil refining and petroleum product campaigns. Gazprom Neft commercialised Euro 4 and Euro 5 fuels at its refineries and launched sales of a new premium class of motor fuel under the brand G-Drive through its own filling station chain. Gazprom Neft expanded the geographic reach of its filling stations by entering the market in Russia’s Southern Federal District. Gazpromneft-Aero, a subsidiary of the Company, began the refuelling of aircrafts at 12 Ministry of Defence airfields, obtaining the status of exclusive jet fuel supplier and aircraft fuelling service provider to the Russian Armed Forces. It also started aircraft refuelling operations at the international airports of Bishkek and Manas in Kyrgyzstan. The Omsk refinery started producing bituminous polymer materials.

2012

Gazprom Neft became one of Russia’s largest volume producers and refiners, and established itself as a clear industry leader . The Company started crude oil production in a pilot operation project at the Vostochno-Messoyakhskoye field, and also launched first stage commercial operations at the Samburgskoye oil-gas condensate field, owned by Russian-Italian company SeverEnergia. It continued to develop a production cluster in the Orenburg Region, which included the Baleykinskoye field and the Uranskaya area, following the acquisition of LLC Zhivoy Istok. At the end of the year, the Company acquired the Novoportovskoye field and took part in new hydrocarbon reserve exploration and development projects in Iraq. Gazprom Neft acquired LLP Bitumniy Zavod, a new asset for the production of modified bitumen and bitumen emulsions in Kazakhstan. The Company’s Moscow refinery started producing Euro 4 Ai-92 and Ai-95 automotive gasoline, and the Omsk refinery began production of Euro 4 and Euro 5 Ai-92 and Ai-95 automotive gasoline and Euro 5 diesel fuel. A Company joint venture, OJSC Slavneft-YaNOS, switched over entirely to the production of high-octane Euro 5 Ai-92 and Ai-95 automotive gasoline.

Gazprom Neft also gained access to refining assets in the Republic of Belarus, and proceeded with the development of a distribution network in Ukraine under the Gazpromneft brand and in Europe (Serbia and Romania) under the GAZPROM brand.

2013

This year was marked by a number of significant steps towards the achievement of the Company’s strategic goals: as part of the development of the Arctic shelf resources, the first oil was produced at the Prirazlomnoye field; Gazpromneft-Total PMB, a joint venture, was established for the production of modified bitumen and bitumen emulsions and Khanty-Mansi Oil and Gas Union was created jointly with Shell to carry out new shale oil deposit exploration and development projects in KhMAD. The 100% stake in CJSC Gazprom Neft Orenburg was consolidated.

The Board of Directors of Gazprom Neft approved the Company’s development strategy, having extended the planning horizon to 2025. The bunker, aviation fuel and oil business development strategies were likewise updated to the year 2025.

Gazpromneft-Khantos found the first oil in the Yuzhno-Kinyamskoye field in KhMAD. In January 2013, the licenced block was moved into commercial development.

The Company obtained the right to use the sub-soil of the Yuzhno-Pudinskiy block located in the Parabel district of the Tomsk Region.

The Company completed its pilot drilling programme at the Novoportovskoye field — one of the largest Yamal fields under development.

Catalytic cracking gasoline hydrotreatment and light naphtha isomerisation units were commissioned at the Moscow Oil refinery. This allowed the refinery to complete a full switch over to production of Euro 5 gasoline. All refining assets of the Company have now switched over to production of Euro 5 fuels.

Gazprom Neft’s bunker business moved into international markets: it acquired Marine Bunker Balkan S.A., operating in the Black Sea region, and AS Baltic Marine Bunker, operating in the Estonia, Latvia and LithuaniaBaltic region. Gazpromneft-Aero moved into new territories and increased its international operations to 100 airports. In 2013, the Company continued to expand its filling station chain in the Baltic region. In addition to filling stations opened earlier under the GAZPROM premium-class brand in Serbia and Romania, the first filling stations were launched in Bulgaria and Bosnia and Herzegovina.