he Gazprom Headquarters keeps hosting the Board of Directors meeting.

The Board of Directors took into consideration the information on the Gazprom’s geological exploration and mineral resource base replenishment related activities.

The Company’s Management Committee is tasked to continue activities in this area.

Reference:

Gazprom contributes a lot to its mineral resource base replenishment. The Company’s strategy in this area is reflected at the Program for the Gazprom’s Mineral Resource Base Development up to 2030, On the Gazprom’s Participation in Developing Eastern Siberia and the Far East-Based New Gas Production Centers, On the Program for Russia’s Offshore Hydrocarbon Development, as well as other program documents adopted in Gazprom.

An implementation of the mineral resource base development strategy provided for the increase in commercial gas reserves from 26.1 tcm to 29.8 tcm between 2002 and 2007.

A reserves increment in 2005, 2006 and 2007 exceeded the production volume, and the reserves replenishment coefficient for this period amounted to 107 per cent (from 2002 to 2004 the coefficient equaled 81 per cent).

The Company has arranged the exploration activities on the Barents, Pechora and Kara Sea shelves followed by the major reserves increment in the last three years – due to the further exploration of the Shtokman field in the Barents Sea and the discovery of the Severo-Kamennomysskoye and Kamennomysskoye-Sea fields in the Ob Bay water area.

Gazprom launched its activities in Eastern Siberia regions. The discovery of the Beryambinskoye gas condensate field in the Krasnoyarsk Krai and Chikanskoye field in the Irkutsk Oblast has been of significant importance.

Geological exploration works are organized as part of international agreements on the Vietnam, India, Venezuela shelves as well as in Libya and Uzbekistan.