Technological leadership

Technological leadership

GRI 103-2

The creation and development of new advanced technological competencies is of great importance for the Company when Zarubezhneft JSC enters new projects. In addition, unique expertise contributes to successful expansion into regions where it is necessary to level out possible advantages of major players and local market representatives.

The Company’s technological advantage allows Zarubezhneft JSC to enter projects that other market players have refused to participate in, considering them unprofitable. But these projects achieve economic performance due to the application of advanced solutions and innovative approaches.

Zarubezhneft JSC focuses not only on innovations in the oil segment. In spring 2019, the Zarubezhneft JSC Board of Directors considered developing renewable energy sources (RES) projects. As in the case with the main business, a gradual expansion is planned in this area.

Digitalization is a key innovation area for Zarubezhneft JSC. In the near future, the Company’s Digital Transformation Strategy will allow for integrated planning and prompt adoption of optimal managerial, technological, and operational decisions.

In 2019, the Company was the first to receive a CEP. The CEP project is implemented by Rosprirodnadzor as part of the federal project “Implementation of the Best Available Technologies” of the national project “Ecology.” It includes online transmission of indicators showing the negative impact of production on the environment to Rosprirodnadzor.