Gazprom Neft, the oil arm of Russian gas export monopoly Gazprom, plans to join large foreign production projects in the nearest future, Chief Executive Officer Alexander Dyukov said on Tuesday. "We are expanding our production business abroad and planning to join several large foreign projects," he said. The company's development strategy says that it plans to produce 100 million metric tons of oil equivalent by 2020, whith about 10 million metric tons to be produced abroad, Dyukov said.
Gazprom Neft plans to join Libya's Elephant project soon, the company's Deputy CEO Boris Zilbermints said. "We are planning to join the Elephant in late summer but we don't plan to invest much, except the exntrance fee because the project has already been launched. We are currently negotiating with several other asset owners in Libya," Zilbermints said. Gazprom Neft sees West Africa as a very interesting region due to its exclusive tax regime which all other states have cancelled, Dyukov said.