print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line

Get updates

Home  Issuers' Corner  Press Releases  Rosneft Oil Company REGISTER LOG IN

Press Releases > Rosneft Oil Company  all about the company

company search
all press releases
all Rosneft Oil Company press releases

Rosneft Oil Company

June 29, 2005

Rosneft and Novatech agree on cooperation in the Yamalo-Nenets Autonomous District and the purchase of 34 Selkupneftegaz shares

Rosneft and Novatech have signed a long-term cooperation agreement on the development of the Kynsko-Chaselsky group of fields and the Termokarstovsky deposit, all located in the Krasnoselkupsky district of the Yamalo-Nenets Autonomous District.

The parties agreed to work together to maximize efficiency in the refining of raw materials extracted in the Kynsko-Chaselsky group of fields (for which Rosneft holds the development license) and at the Termokarstovsky deposit (where Novatech holds the license) to make products competitive and highly-profitable.

In particular, Rosneft and Novatech plan to cooperate in the use and development of the fields’ transportation and refining infrastructure.

Rosneft also pledges to provide Novatech with existing and future infrastructure facilities for delivery of the hydrocarbons extracted at the Termokarstovsky deposit.

Under the agreement, Novatech will build a gas pipeline and an export condensate pipeline from the Termokarstovsky deposit to the points of connection with Rosneft’s pipeline system. Rosneft will provide Novatech with the corresponding technical specifications for its system of pipelines transporting gas and condensate from the Kynsko-Chaselsky group of fields.

Under the conditions agreed, Rosneft will use its infrastructure to provide preparation, transportation, refining and railway shipment services for up to 550,000 tons of gas condensate from the Termokarstovsky deposit each year.

The parties also agreed on their joint investment in the construction of an export pipeline system from the Kynsko-Chaselsky group of fields. The investments will be shared based on their shares of gas extraction. They also intend to contribute to social and economic development plans in the Krasnoselkupsky District (Yamalo-Nenets Autonomous District), and to conduct activities aimed at the region’s environmental enhancement.

Rosneft and Novatech also signed an agreement under which Rosneft is to purchase 34 Selkupneftegaz shares from Novatech (a 34% in the enterprise).

Kynsko-Chaselsky Group of Fields

Recoverable reserves total 10.4 million tons of oil, 13 million tons of gas condensate and 103 billion cubic meters of gas. Production in the Kynsky field started in March 2003, with works performed by Rosneft-Purneftegaz, Rosneft’s main producing subsidiary. The development of the field is the first stage of the company’s program for the development of the Kynsko-Chaselsky group of oil fields. Over the next few years, Purneftegaz plans to start developing 5 more fields from the group: Fakhirovsky, Novochaselsky, Ust-Chaselsky, Verkhne-Chaselsky and Naumovsky.

The Kynsko-Chaselsky and Chatylkinsko-Udmurtsky license areas are located in the Yamalo-Nenets Autonomous District, Tyumen Oblast, 100-120 km from the oil and gas transportation system. The area is boggy tundra. Permafrost extends to a depth of 300 m. Negative temperatures persist for 6 months a year.

Termokarstovsky Gas and Gas Condensate Deposit

The field is situated 220 km. northeast of the city of Tarko-sale. ABC1+C2 category reserves total 47.3 billion cubic meters of natural gas and 10 million tons of liquid hydrocarbons. Terneftegaz, a Novatech subsidiary, is developing the deposit.


Registered on May 12, 2000 by the Krasnoselkupsky District Administration, Yamalo-Nenets Autonomous District; No. EGRUL 1028900699024. Location: Krasnoselkup, Krasnoselkupsky district, Tyumen Oblast, Yamalo-Nenets Autonomous District, Russian Federation.

Main shareholders (prior to signature of the agreement): Rosneft – 66%, Novatech – 34%.




Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index


Site Map
Privacy Statement | Disclaimer