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Gazprom

January 26, 2005

Gazpromís delegation travels to Iran

Led by CEO Alexey Miller, Gazpromís delegation completed its business trip to Iran.

In the course of the trip, Alexey Miller met with Bijan Namdar Zanganeh, Iranian Oil Minister. The parties addressed Gazpromís participation in projects on Iranian gas marketing (construction of transmission infrastructure applies) to third countries, potential involvement in new phases of the South Pars field development as well as construction of underground gas storage facilities and use of gas as motor fuel.

Reference:

The worldís second-largest (some 16% of the global total) after Russia, Iranís natural gas reserves are valued at 24 tcm, with roughly a half concentrated in the Persian Gulf offshore.

Intensively developed by the Iranian Petroleum Ministry, the South Pars offshore field is situated in the central Persian Gulf, 100 km off the Iranian coast. With a total of 25 stages slated for implementation, the Iran-exploited part of the field contains over 12 tcm in overall gas reserves.

Gazprom took part in the 2nd and 3rd stages of the South Pars field development.

In July 2004, Tehran hosted a solemn ceremony of the National Iranian Oil Company and its subsidiaries obtaining operatorship from an International Consortium over the 2nd and 3rd stages of the South Pars field.

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