Arctic gas boosts Gazprom Neft
The Russian producer looks on track to achieve its production growth targets
Gazprom Neft posted a 5.5pc year-on-year increase in its oil and gas production in the first half of 2019, leaving it well placed to meet its stated growth ambitions. Surging output from its Arctic gas fields was a major driver. Hydrocarbon production in the quarter grew to 1.94mn bl/d oe, which the firm attributes to higher yields at its Novoport and Messoyakha projects beyond the Arctic Circle. Output gains at Gazprom Neft's Arcticgas joint venture and the recently-launched Tazovskoye field in western Siberia also played a role, says Maxim Khudalov, director at Moscow-based ratings agency Acra. Liquids output grew by only 1.8pc year-on-year in the first half, as Moscow's commitments under
Also in this section
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
