Miller: In 2020, Gazpromneft to increase the production volume to 100 million tons of hydrocarbon per year, and the processing – to 70 million tons

The strategic guidelines of the Gazpromneft's development provide for the company’s production volume will reach 100 million tons of hydrocarbon per year by 2020, and the processing volume – 70 million tons per year, the Gazprom’s Head Alexei Miller announced at the annual meeting of shareholders.

According to him, the oil sector is the second most important in the Gazprom’s business structure.

“The solution to construct a vertically-integrated system of the oil business in Gazprom on the basis of Gazpromneft’s companies was absolutely correct. The company confidently goes to its strategic aims, and some of them are over fulfilled already. In near years, Gazpromneft’s priorities will be to maintain high growth rates of the hydrocarbon production, the development of new areas – as in Russia, as in other countries, the increase of produced oil products quality and the depth of oil processing. The brand of the Gazpromneft’s network of filling stations will get a further development. We will significantly intensify our positions at the retail market in Russia and the CIS countries,” – Miller said.

In 2011, Gazprom also continued to actively invest into the Russian power industry. The Gazprom’s share in power generation in Russia is 17%, and in heating – 8%, - he said.

Translated by Svetlana Kyrzhaly

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