Gazprom Neft to Plow Funds Into Shale Oil

摘要

Gazprom Neft aims to invest some $385 million over the next three years to de- velop the shale oil in the deep Bazhenov formations, which the producer believes might one day account for roughly 10% of Russia’s overall production. According to Kirill Strizhnev, chief of Gazprom Neft’s Bazhen technological center set up to identify the proper technologies to develop the formations, the producer aims to invest 25 billion rubles ($385 million) in the next three years in Bazhen, where the goal will be to produce 2.5 million metric tons (50,200 b/d) annually by 2025.