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Gazprom

January 25, 2005

Gazprom completes first stage of Bovanenkovo field investment planning

At a Gazprom meeting presided by Alexander Ananenkov, Deputy Chairman of the Company’s Management Committee, VNIPIgazdobycha presented a Draft investment plan for the Yamal Peninsula-based Bovanenkovo field upstream and midstream facilities.

Taking part in the discussion were top managers and experts of Gazprom’s core business units and research institutes. The Plan will undergo public expertise, with Gazprom’s Management Committee’s approval to follow.

The meeting resolved to task Gazprom’s core businesses with building an R&D program focused on fundamentals and legislation for the Yamal upstream and midstream infrastructure designing, construction and operation.

Gazprom’s departments and subsidiaries were entrusted with getting actively involved in fulfilling the 2004-2005 Paramount Measures targeted at the Bovanenkovo field upstream and midstream development.

“The first stage of the Bovanenkovo field investment planning has been completed. This is a crucial step for Gazprom towards bringing into operation the Yamal onshore and offshore fields,” – said Alexander Ananenkov.

Reference:

On 14 January 2002, Gazprom’s Management Committee identified the Yamal Peninsula as a region of the Company’s strategic interests and a major field development area up to 2010 and over the foreseeable future. Commercial development of the Yamal fields will make it possible to build up local gas production to 250 bcm/y, enabling Gazprom to meet its 560-bcm/y and 580-590-bcm/y challenges set for 2010 and 2020, respectively.

In pursuance of a directive by the RF President and Prime Minister, Gazprom together with the authorities of the Yamal-Nenets Autonomous Area (YaNAA) formulated a Draft program on comprehensive commercial development of the Yamal onshore and offshore. The program pursues the objective of implementing a state-run policy in the investment & capital construction, taxation & legislation sectors to establish all necessary pre-requisites for the Yamal Peninsula development.

The Cenomanian-Aptian deposits of the Bovanenkovo field are a paramount target. On 29 September 2003, Alexey Miller, Gazprom’s Management Committee Chairman reached an agreement with VNIPIgazdobycha to devise the Investment Plan for the Yamal Peninsula-based Bovanenkovo field upstream and midstream facilities.

Along with scrutinizing the existing infrastructure and identifying crucial construction targets and capital investments on a year-by-year basis, said Plan underpins the regulations governing capacity commissioning and gas production dynamics, a general gas transmission route and a gas main construction scheme.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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