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GAZPROM

August 16, 2005

On Alexey Miller and Viktor Vekselberg’s working meeting

Gazprom’s Headquarters has hosted today a working meeting between Alexey Miller, Gazprom’s Management Committee Chairman and Viktor Vekselberg, TNK-BP’s Executive Director for Gas Development.

The meeting dealt with potential bilateral cooperation In hydrocarbon production and processing, placing special emphasis on issues relative to the implementation of the Program on setting up an integrated gas production, transmission and supply network in Eastern Siberia and the Far East. A focus of the meeting also fell on the Sakhalin projects.

Alexey Miller and Viktor Vekselberg pointed to the great potential and nationwide significance of developing the East Siberian and Far Eastern energy market. In this regard, the parties looked into the construction of new comprehensive hydrocarbon processing facilities at the prominent fields of the region, including the Kovykta field.

Reference:

The initial onshore gas reserves of Eastern Siberia and the Far East total 44.8 tcm (including 32.9 tcm and 11.9 tcm clustering in Eastern Siberia and the Far East, respectively), which is roughly 19% of Russia’s initial overall resources.

The poorly explored gas potential of Eastern Siberia and the Far East (by a total of only 8.3%) points to vast opportunities of building up new reserves for large-scale gas production in this region. The explored gas reserves are prognosticated to grow some 6.1 tcm over 2004 to 2030.

The Kovykta gas condensate field is located in the Irkutsk region, 450 km northeast of the city of Irkutsk. The field natural gas reserves are valued at 1.9 tcm.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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