Gazprom Neft, is the third largest oil producer in Russia, and Mubadala Petroleum (Abu Dhabi, UAE) have entered into a memorandum of understanding in the field of technological cooperation.

The partners agreed to work together to create new technologies that include the development of innovative solutions in oil production and digitization of production processes.

Gazprom Neft and Mubadala Petroleum are partners in the Gazpromneft-Vostok joint venture, which manages the development of 12 fields in the Tomsk and Omsk regions of Western Siberia. This joint venture is also involved in implementing a technological project — the “Paleozoic Project” — directed at developing technologies for discovering hard-to-recover oil deposits within Jurassic formations throughout the Tomsk region.