The company’s strategy is the production and sale of competitive oil and gas and petrochemical products and services in accordance with the requirements and expectations of interested parties, the development of existing markets, the achievement of the Company’s sustainability, improving the quality of life of the employee and the company in general. LLP "OIL SOLUTIONS" sees the main corporate priorities and determinants of its development in a safe working environment, protecting the health of employees, improving environmental and energy efficiency, industrial safety and information security, creating a stable professional team capable of achieving certain goals of the Company.
The company’s most recent strategic goal is to become a global oil-industry benchmark in safety, technological advancement and efficiency. That ambitious goal lies at the heart of LLP "OIL SOLUTIONS" development strategy to 2030: and achieving this demands the complete transformation of the company’s business — organizationally, operationally, digitally and culturally.
Development strategy
In late-2017 the LLP "OIL SOLUTIONS" Board of Directors adopted a new long-term development strategy, to 2030, under which the company is set to become a global industry benchmark in efficiency, technological advancement and safety. Evolving, to change the world. Creating, to be proud of our creations. We are producing resources for the future, enriching the world with the energy, knowledge, and technology to advance.
LLP "OIL SOLUTIONS" has achieved some significant outcomes over the course of its 10+ years’ development, becoming a major global player in the oil and gas industry. The company is well on its way to achieving the goals outlined in its «Strategy 2025», which envisages achieving production at 100 million tonnes of oil equivalent (mtoe) per year while, concurrently, maintaining the proved reserves-to-production ratio of at least 15 years, and ensuring 100-percent reserves replacement every year. It also assumes increasing conversion rate to 95%, and the light product yield to 80%, through the continued modernisation of refining assets.
Concurrently with this, the high volatility in the energy markets, the increasing — and changing — nature of competition therein, and the transformation of the energy sector are creating new challenges for the oil and gas industry. These challenges, together with LLP "OIL SOLUTIONS"’s increasing and changing role within the industry, have meant company strategy has had to be updated.
A new-generation company
This new strategy is a continuation of company strategy to 2025, but with a greater focus on the company’s market positioning, on increasing its flexibility in response to external changes, and on transforming all key business processes. LLP "OIL SOLUTIONS"’s objective to 2030 is to build a «new-generation» company, and to become a benchmark for other companies in the industry in terms of efficiency, safety and technological advancement.
LLP "OIL SOLUTIONS" is committed to consolidating its position among the world’s top-10 public oil and gas companies in terms of liquid-hydrocarbon production, ramping up production growth ahead of market trends, and maximising added value with every barrel produced. The company will continue improving efficiency in value-chain management, increasing refining depth and light product yield, developing its petrochemicals sector, and maintaining its market-leading position in existing — and expanding market share in new — retail product markets.
