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Gazprom is consistent in pursuing the policy of boosting production capacities |
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Yuzhno-Russkoye field taken into operation
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Alexey Miller (OAO Gazprom) and
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Importance
The Yuzhno-Russkoye field is an example of efficient Russian-German partnership aimed at providing stable energy security in Europe. The project execution based on asset swap and entire chain development from production to final consumer will strengthen Gazprom positions as a global player on the energy market.
Location
The Yuzhno-Russkoye gas condensate field is located in the Krasnoselkupsky region of the Yamal-Nenets Autonomous Okrug.
Reserves
The Yuzhno-Russkoye gas condensate field reserves are as follows: 825.2 bcm of gas ABC1 category, 208.9 bcm of gas C2 category, 5.7 mln tons of oil.
Project Operator
Severneftegazprom, is the liсense owner for hydrocarbon exploration, development at the field.
The Agreement on Share Swap between Gazprom and BASF AG was signed in 2007. According to the Agreement, Gazprom increased its stake in the authorized capital of Wingas GmbH up to 50 per cent minus one share. In its turn, BASF AG acquired a 25 per cent stake minus one voting share and one share without voting rights, which is an equivalent to a 10 per cent stake in the project’s economy. During the deal closing specified by the Agreement, Gazprom Group will receive a 49 per cent stake in Wintershall AG authorized capital. Wintershall AG holds licenses to develop and produce hydrocarbons in the frames of the concessional agreements in Libya).
Additionally, In June 2006 Gazprom and E.ON AG signed a Framework Agreement on Asset Swap in gas production, marketing and electric power industry. In the frames of the Agreement E.ON will participate in the project of developing the Yuzhno-Russkoye field and Gazprom will get stakes in E.ON assets in Western and Central Europe. As of December 2007, Gazprom and E.ON achieved significant progress in business talks on asset swap.
Commercial Launch
The start-up complex was commissioned in October 2007.
On December 17, 2007 Gazprom and BASF signed a certificate on asset swap deal closing in the sector of gas production and marketing.
In the presence of Dmitry Medvedev, First Deputy Chairman of the Russian Federation, Chairman of the Gazprom Board of Directors and Frank-Walter Steinmeier, Minister of Foreign Affairs of Germany, the Gazprom Headquarters has hosted a ceremony dedicated to the commercial launch of the Yuzhno-Russkoye oil and gas condensate field.
Design Capacity
The field will reach a 25 bcm design capacity in 2009.
Current Situation
As of December 2007, 26 gas wells are under operation producing 15 mcm of gas per day.
Geological survey at the field continues. Work is underway to increase the number of existing wells and to develop infrastructure. The field start-up facility was brought online in October 2007.
Direct speech
Photo Album
Yuzhno-Russkoye field commissioning
Press releases
December 18 2007
Gazprom and BASF put into operation Yuzhno-Russkoye field
December 17 2007
On working meeting between Alexey Miller and Jurgen Hambrecht
December 17 2007
Gazprom and E.ON AG achieve progress in talks about assets swap
November 27 2007
Gazprom and BASF AG establish Gazprom YRGM Trading
October 25 2007
Gazprom puts into operation Yuzhno-Russkoye field startup complex
October 25 2007
Gazprom and BASF AG entered into share swap agreement
July 13 2006
OAO Gazprom and E.ON AG ink asset swap deal
April 27 2006
Gasprom and BASF AG sign the agreement on assets exchange