Investments into Gazprom’s oil business double

In 2013, Gazpromneft increased its investments into the production of oil and gas condensate more than two times to 189 billion rubles, the head of Gazprom Alexei Miller reported, spoken at the annual general meeting of shareholders of the holding company on June 27th. The total volume of the oil production (including its shares in dependent companies) made up 50.6 million tons in 2013. At the same time, Gazpromneft actively introduces advanced technologies. In particular, Alexei Miller emphasized, the share of high-tech wells in the total volume of drilling increased from 4% to 35% over the past three years. Due to use of new technologies Gazpromneft involved 22 million tons of difficult reserves into development. The Gazprom’s head also noted growth of beneficial use of associated petroleum gas and increase in crude oil processing depth.