Rosneft development strategy, approved by the Board of Directors on December 09, 2014 (Minutes No. 12), outlines the key objectives and targets of its long-term development till 2030.
Development strategy execution was assessed in 2015 given the changes in the industry in 2014–2015. Results of the analysis suggested that strategic directions of the Company were up to date. The Company’s long-term strategic goals and mission remained unchanged.
UPSTREAM:
- Crude oil and Condensate
Production:
efficient maintenance of production at brownfields. Growth driven by the implementation of new projects, development of hard-to-recover reserves and the fields with complex reservoirs. Creation of efficient international upstream portfolio with long-term growth potential. - Exploration:
highly efficient growth in reserves, discovery of reserves for development of new oil and gas producing provinces. - Offshore Projects:
implementation of unique opportunities for hydrocarbons production growth. Value creation and the Company leadership in the offshore oil and gas production.
Gas business
- Growth of the Company shareholder value due to increase in gas production supported by efficient long-term sales portfolio.
DOWNSTREAM:
Refining, commerce and logistics
- Refining:
- industry efficiency and safety leadership;
- the best refinery configuration that meets market demand and is sustainable in the tax changing environment;
- source of financing for its own development and development of other segments.
- Commerce and Logistics:
profit maximization in distribution of products manufactured by other business segments of the Company.
In-house services:
- Development of oil services business with modern technologies to provide the highest economic and operating efficiency.
Technology and localization:
- Technologies:
becoming a world class technologically advanced company, development and transfer of best available technologies for new reserve types exploration. - Localization:
localization of technologies, manufacturing of equipment and services, and support of a high multiplier effect in related industries, regions of operation and at the national level.