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Gazprom Acquires Subsurface License for Kovykta Field

Source: www.gulfoilandgas.com 10/7/2011, Location: Asia

Pursuant to the decision by the Federal Subsurface Use Agency, the license for hydrocarbons production and geological exploration in the Kovykta gas and condensate field was re-registered in the name of Gazprom.

Background

In March 2011 Gazprom acquired the assets of RUSIA Petroleum via an auction procedure. This entitled the Company to receive the subsurface use license for the Kovykta gas and condensate field.

A+B+C1+C2 gas reserves of the field make up 1.5 trillion cubic meters, the recoverable gas condensate reserves – 77 million tons. Besides, the Kovykta gas and condensate field contains abundant reserves of helium.

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