Gazprom, TNK-BP Form JV for Development of Yamal Fields

摘要

Gazprom and TNK-BP have agreed to acquire equal stakes in ZAO Messoyakhaneftegaz, a company that holds licenses in the Yamal region of the Russian Arctic, Bloomberg reported Jan. 11. The licenses contain two oil and gas deposits, West Messoyakha and East Messoyakha. The fields hold a combined 560 million metric tons of oil and 230 bcm of gas. A total of 48 exploration and appraisal wells have been drilled in the licenses as of year-end 2010. The companies plan to bring the fields to a peak production rate of 20 million metric tons of oil and condensate and 10 bcm of gas per year. The total investment to develop the deposits is estimated at US$15 billion to US$18 billion, said Denis Rebrov, a Gazprom spokesman, in an e-mailed statement to Bloomberg. Each company will have 50 percent stakes in the new venture, while Gazprom will be the operator.