Gazprom Neft to invest 30–35 bln rbl per year in exploration

ST. PETERSBURG, Nov 30 (PRIME) -- Russian oil company Gazprom Neft plans to invest 30–35 billion rubles per year in geological exploration at least under its 2030 development strategy, Alexei Vashkevich, head of the company’s division for geological exploration and development of the resource base, told reporters on Friday.

“Results of this year showed that the company has reached a combined amount of investment (into geological exploration) of 30 billion rubles,” he said.

“Judging by the company’s long-term portfolio that consists of works on current assets and (projects) in new regions…combining all options for future growth of the company into a single portfolio, we’ve found a balanced profile of investment in geological exploration at about 30–35 billion rubles per year.”

Investment in exploration in 2019 is likely to remain flat on the year, but may grow slightly, he added.

(66.6342 rubles – U.S. $1)

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