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Gazprom Neft & Zyfra Form A Joint Venture to Develop Digital Solutions

Source: www.gulfoilandgas.com 6/7/2019, Location: Asia

Gazprom Neft and ZYFRA have agreed to establish a joint venture to develop digital solutions for managing production at industrial enterprises. The preliminary agreement was signed by Andrei Belevtsev, Chief Digital Transformation Officer of Gazprom Neft, and Igor Bogachev Chief Executive Officer of Zyfra during the St Petersburg International Economic Forum.

The companies will focus on developing digital solutions for integrated planning, operational accounting at refineries, monitoring and product quality control.

Russian and international oil, gas and petrochemical companies are seen as the potential customers for these digital solutions. Combining the digital skills and competencies of Gazprom Neft and Zyfra will enable the joint venture to become a unique market player in digitising upstream and refining businesses, the total market value of which is estimated at $36 billion.

Gazprom Neft has been developing its own integrated systems since 2017 in collaboration with IT market leaders.

This new partnership with Zyfra will allow the company to expand on the experience gained by jointly implementing digital projects in oil refining. The strengthening of this cooperation will facilitate the development of cutting-edge management information systems in the fields of planning, forecasting of key indicators, identifying losses, operational accounting and optimisation of energy management.

Andrei Belevtsev, Chief Digital Transformation Officer of Gazprom Neft, commented: “Digital solutions improve business efficiency by accelerating projects and providing the best service to customers. These technologies have considerable potential for the entire industry and this new joint venture will make it possible to disseminate best practice throughout the market, bringing new partners into our digital ecosystem.”

Igor Bogachev, Chief Executive Officer of Zyfra noted: “We combine our efforts to offer Russian and international customers ground-breaking new digital solutions to manage upstream and refining operations. Technological innovation and proven economic benefits help cut production costs and reduce losses”.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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