The target follows the company’s success last year in gaining one of the country’s highest production increases, when a new management team helped boost output by almost 5%.
This management reshuffle and the general overhaul of Bashneft’s development strategy has been initiated by the company’s new majority shareholder, Moscow-based Sistema.
Sistema bought the controlling stake in Bashneft and its four advanced oil refineries in April 2009 from a group of Russian companies controlled by Ural Rakhimov, son of Bashkiria President Murtaza Rakhimov.
Bashkiria
