Gazprom-AR2014

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Performance Results 61 Gazprom Group’s major hydrocarbon exploration and production overseas projects 3 4 7 8 9 10 5 6 11 1 2 1 Venezuela 2 Bolivia 3 United Kingdom 4 Junin-6 License blocks Ipati, Aquio, Azero Wingate field Serbia, Romania, Hungary, Bosnia and Herzegovina NIS projects 5 Algeria 6 Libya 7 License block El-Assel License blocks No. 19 and No. 64 Concessions C96 and С97 Iraq Badrah Halabja, Garmian, Shakal 8 Uzbekistan Exploration in Ustjurt region Shakhpakhty 9 Tajikistan 10 Kyrgyzstan 11 License blocks Sarikamysh, License area Kugart Western Shohambary block Vostochny Mailisu – IV Vietnam Blocks No. 112 (including extension), No. 129–132, No. 05-2, No. 05-3 Hydrocarbons prospecting and geological exploration Oil production Gas and gas condensate production As of 31 December 2014, Gazprom’s hydrocarbon exploration and production portfolio consisted of 38 overseas projects including 17 projects in which the Group’s subsidiaries acted as operators. In overseas exploration projects in which the Group’s subsidiaries acted as operators, exploration drilling completed in Algeria and Serbia and 3D seismic surveys performed in Serbia. The Shakhrinav-1p prospecting well, with a depth of 6,450 m, was completed in Tajikistan in 2014. It is the deepest well in the entire history of oil and gas drilling in Central Asia. The drilling yielded invaluable data on the complex structure of the area, which offers potential for streamlining design solutions and fine-tuning the reservoir characterisation and directions for further exploration. In Algeria, drilling of the RSHN-1 prospecting well to a depth of 4,100 m tapped hydrocarbons in Ordovician deposits within the boundaries of Rhourde Sayah North (RSHN) structure. OAO Gazprom Annual Report 2014
62 Performance Results Hydrocarbon exploration overseas 2012 2013 2014 Exploration drilling, thousand m 24.0 18.1 17.6 Completed exploration wells, units 7 4 5 including productive wells 1 1 4 2D seismic survey, thousand linear km 0.7 0.4 – 3D seismic survey, thousand square km 0.4 1.4 1.7 Exploration spending, RUB bn 8.9 6.3 5.4 Note. The consolidated physical results of Gazprom Group’s exploration overseas include projects in which the Group’s subsidiaries acted as operators. In 2014, Gazprom Group spent RUB 5.4bn in overseas exploration projects. With E&P deemed unfeasible, the subsoil user resolved to waive its license for the Urumaco I block (Venezuela). The Group is also involved in a number of oil and gas projects at their production stage: — the total of 1,786.2 mmcm of gas and 366.4 thousand tonnes of condensate (5.8x and 6.2x the 2013 figures, respectively) were produced at the fields of the 05-2 and 05-3 blocks in Vietnam’s offshore in the South China Sea; — the total of 622.4 mmcm of gas and 4.4 thousand tonnes of condensate (158% and 210% of the 2013 volumes, respectively) were produced by the Wingate offshore project in the North Sea; — the total of 334 mmcm of gas (105% of the 2013 figure) were produced at the Shakhpakhty field in Uzbekistan. Under C96 and C97 Libyan oil concessions, Wintershall AG produced 0.4 mm tonnes of oil (against 2.4 mm tonnes of oil and 254 mmcm of gas in 2013). Production declined due to a force-majeure regime instituted by the company in August 2013. In the reporting year, Gazprom neft’s subsidiary NIS (Serbia) produced 1.2 mm tonnes of oil and gas condensate and 0.6 bcm of gas. Oil production began at the Badra field in Iraq. In 2014, the production volumes totalled 309.5 thousand tonnes. Commercial shipments of oil started. Crude oil is delivered into Iraq’s pipelines and directed to the export terminal in Basra (Persian Gulf). At the Junin-6 project (Venezuela), 262 thousand tonnes of oil were produced in 2014. Basic engineering continued for an oil upgrader (oil quality system) to improve oil quality. In the Russian segment of the project, managed by OOO National Oil Consortium, OAO NK Rosneft Oil Company increased its shareholding up to 80%, while the share of OAO Gazprom neft remained the same at 20%. OAO Gazprom Annual Report 2014
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OAO Gazprom Annual Report 2014 The
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Contents 4 Statement of OAO Gazprom
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4 Statement of OAO Gazprom’s Chai
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6 Major results Gazprom Group Resul
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8 Company Information OAO Gazprom
Page 11 and 12: 10 Company Information OAO Gazprom
Page 13 and 14: 12 Company Information Track Record
Page 15 and 16: 14 Company Information Gazprom Grou
Page 17 and 18: 16 Company Information Operations a
Page 19 and 20: 18 Business Development Prospects S
Page 21 and 22: 20 Business Development Prospects G
Page 23 and 24: 22 Business Development Prospects E
Page 25 and 26: 24 Business Development Prospects T
Page 27 and 28: 26 Business Development Prospects E
Page 29 and 30: 28 Business Development Prospects P
Page 31 and 32: 30 Business Development Prospects U
Page 33 and 34: 32 Business Development Prospects S
Page 35 and 36: 34 Board of Directors and Managemen
Page 43 and 44: 42 Board of Directors’ Report on
Page 49 and 50: 48 Trends and Developments on Oil a
Page 55 and 56: 54 Performance Results Exploration
Page 57 and 58: 56 Performance Results Distribution
Page 59 and 60: 58 Performance Results Distribution
Page 61: 60 Performance Results The company
Page 65 and 66: 64 Performance Results Transportati
Page 67 and 68: 66 Performance Results Gas transpor
Page 69 and 70: 68 Performance Results Gas Infrastr
Page 71 and 72: 70 Performance Results Hydrocarbon
Page 73 and 74: 72 Performance Results Gazprom, on
Page 75 and 76: 74 Performance Results OAO Mezhregi
Page 77 and 78: 76 Performance Results Major invest
Page 79 and 80: 78 Performance Results European gas
Page 81 and 82: 80 Performance Results In accordanc
Page 83 and 84: 82 Performance Results Oil and gas
Page 85 and 86: 84 Performance Results Sales of ref
Page 87 and 88: 86 Innovations In 2014, the budget
Page 89 and 90: 88 Innovations — produced a techn
Page 91 and 92: 90 Innovations 14 meetings of coord
Page 93 and 94: 92 Environment and Social Responsib
Page 101 and 102: 100 Environment and Social Responsi
Page 111 and 112: 110 Corporate Governance OAO Gazpro
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112 Corporate Governance Corporate
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114 Corporate Governance Summary of
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116 Corporate Governance Remunerati
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118 Corporate Governance In additio
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120 Corporate Governance Liability
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122 Corporate Governance Audit Comm
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124 Corporate Governance The intern
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126 Corporate Governance Efficient
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128 Corporate Governance Stock Mark
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130 Corporate Governance Dividend P
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132 Risk Management Gazprom has con
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134 Risk Management Customs, curren
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136 Glossary ADR of OAO Gazprom APG
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138 Corporate Governance Units of M
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140 Additional information List of
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142 Additional information 11. Adde
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144 Additional information 27. Bank
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146 Additional information 45. Adde
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148 Additional information 59. Trad
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150 Additional information 68. Trad
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152 Additional information 84. Cont
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154 Additional information 96. Volu
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156 Additional information Inclusio
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158 Additional information Improvem
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160 Additional information These ef
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162 Addresses and Contact Details F
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