Gazprom Neft to Attract Foreign Partners in Oil Production, Projects

ST. PETERSBURG (Sputnik) — The CEO noted that the disscussions concerned projects in the sphere of "the production and downstream [refining]."

"A number of projects is being discussed with a number of international partners, including the European companies; we are discussing the creation of partnerships for the projects' implementation, including those in Russia," Dyukov told RIA Novosti.

Gazprom Neft is also looking to increase its oil production at the Badra field in Iraq up to 115,000 barrels per day and discuss with Iraq possible increase of production to 170,000 barrels per day, the company’s First Deputy CEO Vadim Yakovlev said Thursday.

"According to the approved [project the company will produce] 115,000 barrels per day. Next year we will achieve this level of production. [The project] also provides for an option to increase the cap, it will be discussed next year," Yakovlev said, adding that the company wanted to produce 170,000 barrels per day.

Gazprom Neft is the fourth largest oil producer in Russia and ranked third according to refining throughput. It is a subsidiary of Gazprom, which owns about 96 percent of its shares.

At the moment, Gazprom Neft is producing 65,000 barrels per day at the Badra oil field.

Gazprom Neft has operated in Iraq since 2010, when it assisted with oil field exploration in Badra in the eastern governorate of Wasit. Production there began in May 2014.