We present our view on the corporate outlook for Gazpromneft, its strategy and portfolio. The company is the fourth largest oil producer in Russia, with a diverse portfolio of assets in West Siberia, Volga-Urals and Russia's offshore. The company has successfully developed Russia’s first offshore Arctic field, Prirazlomnoye, and made the news in 2017 and 2018 for its world-class Neptune and Triton discoveries. This slide pack highlights key areas of Gazpromneft’s portfolio and the opportunities and challenges facing the company, in particular: • What will drive Gazpromneft's long-term strategy? • What do recent offshore discoveries mean for the company's portfolio? • Will Gazpromneft be able to unlock the potential of Bazhenov and Domanik shale oil plays? If so, what will it take?