Gazprom Neft and Tsifra formed JV

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AK&M 23 November 2020 09:18

Gazprom Neft and Tsifra formed JV Digital industrial platform to develop digitalization and promote new technological solutions for oil and gas industry, as it was informed by Gazprom Neft.

JV intends to launch a digital production management platform in 2021 to solve problems in the centralization of operational management, to create digital twins using artificial intelligence technologies.

JV is based on Internet of Things (IoT) platform ZIIoT and digital services developed by Tsifra Group. Gazprom Neft experts are to provide access to the data and production sites for testing. Tsifra should provide promotion of products in foreign markets, mainly in South-East Asia and Latin America.

The Company's headquarters will be located in Saint Petersburg.

Gazprom Neft (TIN 5504036333) and its subsidiaries are holders of 61 licenses for exploration and development of the oil/gas fields. Proven oil reserves exceed 4.5 billion barrels. The major holder of the Company is Gazprom Group.

Net profit attributable to shareholders of PJSC Gazprom Neft under IFRS for 2019 increased by 6.2% to RUB 400.201 billion compared to RUB 376.667 billion a year earlier. Revenue amounted to 2.485 trillion rubles-at the level of 2018 (+0.2% - 2.489 trillion rubles). adjusted EBITDA (earnings before interest, income tax and depreciation) remained stable - 795.1 billion rubles - despite negative price dynamics and market trends.

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