Gazprom Neft joins The Open Group consortium

AK&M 04 August 2020 23:30

Gazprom Neft has joined The Open Group international consortium as the first representative of Russian business ready for partnership with more than 700 innovative companies, the company informed.

As part of the Open Subsurface Data Universe (OSDU) industrial division, Gazprom Neft will combine its expertise with IT industry players and smart energy companies, including Amazon Web Services, Google, IBM, Microsoft, NVIDIA, ExxonMobil, Chevron, Equinor, BP, Shell, and TOTAL.

Gazprom Neft PJSC (tax number: 5504036333) and its subsidiaries own 61 licenses for the prospecting and development of oil fields. The proven oil reserves in the company's fields exceed 4.5 billion barrels. The company's largest shareholder is Gazprom Group.

IFRS net profit attributable to the shareholders of Gazprom Neft PJSC for 2019 increased by 6.2% YoY to reach RUB 400.201 billion versus RUB 376.667 billion a year earlier. Revenue was RUB 2.485 trillion decreasing by 0.2% YoY from RUB 2.489 trillion). Adjusted EBITDA (earnings before interest, tax, depreciation and amortization) stayed flat YoY at RUB 795.1 billion, despite negative price dynamics and adverse market trends.

IFRS loss of PJSC Gazprom Neft for Q1 2020 attributable to the company's shareholders amounted to RUB 13.806 billion against a profit of RUB 107.894 billion a year earlier. Revenue decreased by 12.2% to RUB 514.568 billion from RUB 586.359 billion, EBITDA by 54.6% to RUB 81.376 billion from RUB 179.052 billion.