Strategic Report

Last year was a rather difficult one — a significant decline in global hydrocarbon prices could not help but impact the oil and gas sector. However, the internal potential of business reveals itself amidst challenging external conditions, and on behalf of the Company’s Board of Directors I would like to note that the operating results of Gazprom Neft clearly demonstrate this.
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Message from the Chairman of the Management Board

Evaluating the Company’s work in 2014, I can state that Gazprom Neft adequately met the challenges of the changing macroeconomic situation and demonstrated steady growth in its production indicators. I believe that such difficult periods test the soundness of the strategies we have chosen. From the very beginning, we have relied on sustainable development and efficiency and we continue to build the Company based on these same principles.
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In 2014, the Company held leading positions on the Russian market in terms of several indicators. Leading analysts agree that Gazprom Neft has great potential for growth in value over the long term.
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Achieving the plans set forth in the Strategy for the period until 2025 aims to create the most added value for the capital invested by shareholders in the oil and gas industry of the Russian Federation.
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Market review

Given the changed macroeconomic conditions, Gazprom Neft management is focusing on improving the efficiency of all the Company’s business processes.
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