Development and Exploration
Since the production in Gazprom's current main fields of activity is declining, new fields need to be launched in the next few years in order for overall production levels to be sustained. Recognizing this, the company has been investing heavily in major projects, with overall yearly investment reaching about 480 billion rubles ($20 billion) in recent years. Nearly 37% of Gazprom's reserves are located in Yamal Peninsula and in the Barents Sea, and access needs to be gained to those reserves before they can begin production.
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Famous quotes containing the words development and/or exploration:
“To be sure, we have inherited abilities, but our development we owe to thousands of influences coming from the world around us from which we appropriate what we can and what is suitable to us.”
—Johann Wolfgang Von Goethe (1749–1832)
“For women who do not love us, as for the “disappeared”, knowing that we no longer have any hope does not prevent us form continuing to wait. We live on our guard, on watch; women whose son has gone asea on a dangerous exploration imagine at any minute, although it has long been certain that he has perished, that he will enter, miraculously saved, and healthy.”
—Marcel Proust (1871–1922)