Oil and gas companies’ future production profile is shaped by their exploration strategy and resource base development. Gazprom Neft's production profile will include 40% of current exploration projects by 2030. Geological exploration, on the other hand, is a high-risk business because it involves a lot of uncertainty due to the geological complexity of the targets being explored, as well as a lot of risky capital. Taking these factors into account, the Company will need to expand its exploration function as well as its approaches to managing exploration projects in order to meet its lofty aims. To determine the key areas of growth and a strategy for the exploration function development in the coming years, it was decided to first analyze the geological exploration activity in the Company in 2010 – 2020 period. The knowledge of achievements, success stories, and development areas is the fulcrum for future victories. Therefore, retrospective analysis is an important tool for the development of any system of activity - individual, organization, or state.
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