On 16 September 2003, a meeting between Alexey Miller, Gazprom’s Management Committee Chairman, and Fillip Watts, Chairman of the executive committee of Royal Dutch/ Shell, was held.
The progress and the outlook of cooperation between the two companies were discussed at the meeting.
Royal Dutch/ Shell is a British/Dutch oil and gas company involved in hydrocarbon production and processing in 8 countries: USA, Kazakhstan, Nigeria, Brazil, Malaysia, Ireland, Russia and Canada. The total production of the company’s enterprises amounts to 240,000 boe per day. Net profit of Royal Dutch/ Shell reached US$ 9.419 million.
Jointly with Royal Dutch/ Shell, Gazprom takes an active part in the West – East project which envisages the development of China’s Tarim basin fields, construction and operation of a 4,000+ km gas pipeline as well as gas marketing in eastern China. According to the project, annual production and transportation of 12 bcm of gas is set for the first stage of the project development. Exxon Mobile and Chinese companies PetroChina and Sinopec also participate in the project.
Shell Sakhalin Holdings, a Royal Dutch/ Shell subsidiary, holds a 55% interest in the Sakhalin Energy company which is an operator of the Sakhalin-2 project. Other project members are: Mitsui Sakhalin Holdings (25%) and Diamond Gas Sakhalin, a subsidiary of Mitsubishi (20%). The Piltyn-Astokhskoye oil field and the Lunskoye gas field with the total reserves of 600 mln t and 700 bcm, respectively, are developed within the frames of the project.
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