Enerquill Advisory · Research Work with us
Screening universe › Integrated › SIBN

Gazprom Neft (SIBN · Moscow)

Integrated — HQ Russia. Oil & gas valuation, proved reserves, production, break-even, net-asset-value and jurisdiction-risk screen.
Category IntegratedRegion EuropeCEO Alexander Dyukov (2006)Jurisdiction risk High (90)⚠ Sanctioned

Overview

Oil arm of Gazprom and Russia's third-largest oil producer; integrated upstream/downstream with a strong Arctic and West Siberia asset base, but export logistics and pricing constrained by sanctions.

Sanctioned; Gazprom-controlled; figures estimated.

Valuation snapshot (FY2025)

Market cap
$35.0bn
Enterprise value
$44.0bn
EV / EBITDA
3.7x
P / E
5.1x
FCF yield
10.0%
Dividend yield
13.0%
ROACE
16%
Debt / equity
35%
Net debt / EBITDA
0.8x
EV / reserves
$2.75/boe
EV / flowing
$23k/boe/d
Free cash flow
$3.5bn

Its EV/EBITDA of 3.7x is below the 5.9x median across the 142-company universe, the free-cash-flow yield of 10.0% is higher than the 6.5% median, and at $2.75/boe of proved reserves it is cheaper than the $13.51/boe median.

On a balanced screen across the universe, Gazprom Neft scores 56/100, strongest on valuation (87/100). Sub-scores: value 87, quality 69, growth 28, risk 93 (higher = riskier). Note: sanctioned / uninvestable for Western acquirers — shown for completeness only.

Reserves & production

Gazprom Neft holds approximately 16 billion boe of proved (1P) reserves with FY2025 production of about 1,950 thousand boe/d (80% liquids), a reserve life of roughly 22.5 years. Break-even: ~$25 (Brent breakeven) — low-cost West Siberia base but sanctioned/discounted (Urals/ESPO differentials); realized pricing well below Brent

Net asset value (public-source)

For Gazprom Neft, no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.

Jurisdiction risk · production-weighted country risk

90 /100
High jurisdiction risk
Production-weighted average of the country scores below (0 = safest, 100 = riskiest).
Country / regionProd. shareCountry riskKey jurisdiction risk
Russia95%92Sanctions, expropriation, export bans, war; effectively uninvestable.
Other5%50diversified/unspecified exposure — universe-average proxy
How this is scored. Each country's risk (0–100) is anchored to two named public indices — the OECD Country Risk Classification (0–7 official export-credit country risk) and the World Bank Worldwide Governance Indicators (Political Stability & Absence of Violence percentile) — blended 55/45 and rescaled to 0–100. A company's jurisdiction risk is the production-weighted average across the countries where it operates. This is a pure country measure, kept separate from company & financial risk (leverage, governance). Source: OECD Country Risk Classification (CRC) as of 24 July 2025, sourced via the German Federal Export Credit Guarantees (exportkreditgarantien.de) which applies the OECD consensus country risk category directly (values 0-7; 0 = lowest risk). High-income OECD members are not individually rated by the OECD and are set to crc=0 per the model spec (US, UK, Norway, Canada, Australia, Japan, NZ, and most of Europe incl. OECD members Israel, Poland, Hungary, Czechia, Lithuania, Ireland). 'ps' = World Bank Worldwide Governance Indicators (WGI) 'Political Stability and Absence of Violence/Terrorism' percentile rank, latest available (2023 vintage), 0-100 with higher = more stable; ps values are best sourced estimates rounded to the WGI percentile scale. Yemen not on OECD list ('./.') so crc estimated at 7. Iraq-Kurdistan and Falklands are non-standard model rows using judgment, not official OECD entries..

Need this for a live deal on SIBN?

Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.

Work with us →About Enerquill

Key assets & projects

AssetLocationTypeNotes
AssetCountryTypenote
PriobskoyeRussiaOilflagship West Siberia brownfield, EOR/tight oil
Novoportovskoye (Novoport)RussiaOilArctic Yamal, Gate Arctic terminal export
PrirazlomnoyeRussiaOffshore oilonly producing Russian Arctic offshore field (Pechora Sea)
Vostochno-Messoyakhskoye (Messoyakha)RussiaOilnorthernmost onshore field, JV with Rosneft
Chonsky / IgnyalinskoyeRussiaOil/GasEast Siberia development cluster
KuyumbaRussiaOilEast Siberia, JV with Rosneft
Zimnee / OrenburgRussiaOilVolga-Urals mature assets
BadraIraqOilinternational upstream, curtailed

Five-year trend (FY2021–FY2025)

Metric20212022202320242025
Production (mboe/d)18501900195019801950
Proved reserves (bnboe)15.5015.8016.0016.2016.00
Revenue ($bn)45.042.038.041.039.0
EBITDA ($bn)13.512.512.013.012.0
Net income ($bn)7.56.57.07.26.8
Free cash flow ($bn)4.53.53.54.03.5

Get the SIBN one-page tearsheet (PDF)

Enter your email and we'll open a print-ready one-page tearsheet for Gazprom Neft — and add you to the monthly oil & gas valuation screen.

Peer companies — Integrated

SU · Suncor EnergyE · EniROSN · RosneftCVE · Cenovus EnergyIMO · Imperial OilLKOH · LukoilGAZP · GazpromREP · RepsolOMV · OMVTATN · TatneftSNGS · SurgutneftegasGALP · Galp EnergiaORG · Origin EnergyMOL · MOL Group

Sources

Primary: Gazprom Neft FY2025 annual report / results release and investor disclosures; market data via public providers (~mid-2026). Figures are best-estimates pending source verification.

↗ Compare SIBN against 141 peers in the interactive screener

Disclaimer. Screening research only — a starting point, not investment or transactional advice. Figures are drawn from public sources (~mid-2026), may contain errors, and require independent due diligence before any decision.
Enerquill Advisory. Data compiled from company FY2025 filings and results releases; market data ~mid-2026. Larger names are verified against primary sources (shown on each page); smaller names are best-estimates pending verification. © Enerquill Advisory. enerquilladvisory.com