Russian oil company Gazprom Neft (SIBN.RS) plans to launch a number of offshore oil projects in 2016-2020, the company said in a report Friday, Prime-Tass news agency reports.
It plans to organize oil production in the Barents, Chukotka, East Siberian, Laptev and Black seas, the company said.
Gazprom Neft also plans to increase its refining capacity to 70 million-80 million metric tons of oil per year and retail sales to 12 million tons of oil products per year in that period.
Gazprom Neft's oil refining amounted to 28.4 million tons of oil in 2008.
Additionally, Gazprom Neft plans to start production at oil fields belonging to its parent company, gas giant OAO Gazprom (GAZP.RS), and at fields in East Siberia and the Timano-Pechora area in 2011-15, it said.
Gazprom plans to transfer its oil licenses to Gazprom Neft in 2009-10, Gazprom's Deputy CEO Boris Zilbermints said earlier.