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Gazprom Neft intends to increase investment in geological exploration in coming years

It was reported earlier that Gazprom Neft plans in 2017 to increase the investment program by 11.6%

MOSCOW, April 6. /TASS/. Gazprom Neft intends to increase investment in exploration in the next few years, according to Head of Geological Prospecting at Gazprom Neft Vadim Shashel.

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"In 2016 we completed the exploration program. In comparison to 2015, we had a certain decline, which we will straighten out in the exploration strategy in the coming years. At the moment, programs are being developed that will ley us talk about growth of investments in the program of geological exploration work," Shashel said.

It was reported earlier that Gazprom Neft plans in 2017 to increase the investment program by 11.6%, to 404.1 bln rubles ($7.17 bln). In 2016, the company has accumulated 362 bln rubles ($6.46 bln), in 2015 - 334 bln rubles ($6.42 bln).

The company noted the peak of investment in the development of large projects in extraction and processing happened in 2016-2018.

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