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Development strategy

In 2021, in accordance with modern trends and challenges of the energy markets, the Corporate Development Strategy until 2030 was updated.

Despite changes in the external environment, the main principles and targets of the Strategy remain relevant.

The main priority of the company is to maximize shareholder value and ensure optimal return on invested capital within the priority areas of activity.

Strategy priorities

Maximizing value for the shareholder
Upstream – company’s development basis
Implementation of benefits of the strategic controller role
Focused allocation of resources during expansion
Diversification with account of competencies and synergy

The Upstream segment is the backbone
of the company's development.

A niche development strategy fully justifies itself and remains relevant. At the same time, the portfolio of assets is being diversified with an increased focus on the development of the gas component in the segment.

In terms of work on existing assets, the focus is on continuous improvement of operational efficiency, and in working with new projects, the company applies a cluster approach that allows it to focus resources on entering new projects in specific geographic markets and get the best economic effect.

The Corporate Strategy also includes a new area — alternative energy — which the company has been working on for the past few years. Competences are being actively developed, therefore, the implementation of projects in the area of alternative energy follows a clear business logic: first of all, this is a reduction in the carbon footprint, synergy with the existing business and the use of one’s own competencies, and only then — the diversification of the business portfolio with renewable energy assets.

The key priority of Zarubezhneft's service
segment is support and synergy
with the main type of business.

The segment continues to develop the necessary competencies and provides support to the company when entering new regions, and also actively participates in the implementation of technological development programs to improve business efficiency.

For the Downstream segment,
the key tasks are:

  • to find and develop new business lines;
  • develop trading;
  • increase production and sales volumes to generate additional profit.

The development of key areas and priorities in the main business segments is accompanied by appropriate organizational transformations in the company: the development of the operating model, the asset management model continues through the creation of regional business units in accordance with the cluster approach, work is underway to increase the productivity of business processes, the pace of decision-making and the creation unified business systems.

For the confident implementation of the main strategic objectives

The company successfully operates a comprehensive change management system that covers all key areas of the strategy and is built within the logic of five strategic focuses.

Technological development

Further development of technological competencies


Entry into new projects abroad

Corporate evolution

Continuous management efficiency improvement

Talent management

Competent personnel training

Sustainable development

Business decarbonization and RES development

«Zarubezhneft - 2030» – sustainable energy company

Technological leader

with front-end competencies in the area of oil & gas production forming the competitive advantage at the market

Leader in terms of environment protection and safety

​with responsible attitude to the environment of the culture of safe production

Leader in terms of efficiency

focus on efficiency, specific costs decrease, free cash flow growth, ROACE growth

The implementation of the Development Strategy will allow Zarubezhneft to become a sustainable energy company that owns a balanced and diversified portfolio of oil, gas and energy assets and at the same time ensures the most efficient, integrated and environmentally friendly production of energy resources.