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Vision
OUR VISION is to be the leading independent natural gas producer in Russia by harnessing the creative knowledge, enthusiasm and power of our human capital in all spheres of operations and in all regions in which we operate.
OUR STRATEGIC OBJECTIVE is to leverage our competitive strengths to increase our hydrocarbon production on a sustainable and profitable basis. Specifically, we intend to:
Strategy
Substantially increase our production capacity of natural gas and associated hydrocarbons. Natural gas will remain the fuel of choice in the twenty first century as significant efforts are being made globally to reduce the world’s hydrocarbon footprint. Despite the current economic conditions and demand uncertainty globally and in Russia, industry experts maintain that long-term demand for natural gas will be greater than current supply. We plan to continue making prudent and necessary investments to expand our fields’ productive capacity development to reach planned annual production capacity of 45 bcm of natural gas in 2010 and by 2015 we expect that capacity to increase to up to 65 bcm.
Maintain our low cost structure. Through the continued use of modern technology
and production techniques across our prolific hydrocarbon resource base, we intend to maintain our industry leading low cost track record. In 2008, our weighted average lifting cost and our finding and exploration costs remained the lowest amongst global oil and gas producers. The geographic concentration of our resource base and the resulting economies of scale will continue to be a major factor in helping us maintain our low cost structure. Moreover, we strive to maintain consistently low costs in all other areas of our business.
Capture maximum margins on natural gas and liquids sales. Our marketing and sales team continues to optimize our product distribution among customer and market segments to realize superior risk adjusted margins. In addition, as we market our liquid hydrocarbons, we intend to continue to take full advantage of the increased processing flexibility of our Purovsky Plant, and the related infrastructure at the Port of Vitino, and explore possible opportunities for further refining of our current gas condensate production.
Increase our resource base and manage reserves effectively. We intend to continue managing our vast hydrocarbon resource base in order to grow and monetize our proved reserves as we develop our fields. We strongly believe our resource base concentration in the natural gas-rich Yamal-Nenets Autonomous Region, along with the proximity of our fields to the gas transportation infrastructure in the Nadym-Pur-Taz Region, will facilitate cost-effective reserves growth.
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