MOSCOW, May 25 (RIA Novosti) - Gazprom (RTS: GAZP) said Thursday its management had approved a strategy that would see the company producing 80 million metric tons of oil a year by 2020.
The management will now forward the strategy to the Gazprom board of directors for consideration.
The Russian energy giant owns over 75% of shares in Sibneft, one of the world's 20 largest oil companies with proven reserves of over 4.5 billion barrels, after acquiring a 72.7% stake in September 2005 for $13.1 billion.
