Russia's Gazprom Neft overhauls management structure, output chief quits - media
Reuters
Published Apr 05, 2024 07:41
Updated Apr 05, 2024 12:56
MOSCOW (Reuters) -Gazprom Neft, the oil arm of Russian energy giant Gazprom (MCX:GAZP), has overhauled its management structure in order to improve the governance, the Vedomosti and Kommersant daily reported on Friday, citing sources.
It also said that Vadim Yakovlev, who was in charge of the production and exploration unit, had left the company, as Gazprom has moved to strengthen its grip over Gazprom Neft, which is Russia's third-largest oil producer.
Anton Dzhalyabov, who joined the company in August as deputy general director and chief engineer, will take over from Yakovlev, according to the newspaper. He has a background of working at Gazprom.
A source close to Yakovlev confirmed his departure. He oversaw a spectacular doubling of Gazprom Neft's hydrocarbon production to 100 million tons per year and the start of production at Russia's first offshore Arctic oilfield, Prirazlomnoye.
Yakovlev had worked at Gazprom Neft for 17 years, 12 of them in charge of its production and exploration.
Gazprom Neft did not immediately reply to a request for comment.
Gazprom Neft has fared better than its owner, Gazprom, the world's biggest natural gas company by output and reserves, which saw its earnings plummet as its sales to Europe dwindled amid political strains over Ukraine.
In November, the market capitalisation of Gazprom dipped below that of Gazprom Neft amid high oil prices and after a dividend announcement by the subsidiary.
Gazprom bought Gazprom Neft, which was then called Sibneft, for more than $13 billion from tycoon Roman Abramovich in 2005.
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Written By: Reuters
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