Management Committee approves creation of Gazprom representative office in Sakhalin Oblast
The Management Committee considered it expedient to create a Gazprom Representative Office in the Sakhalin Oblast.
The Representative Office creation issue is pending approval by the Gazprom Board of Directors.
Being the most explored area in the Far Eastern Seas, the Sakhalin Island offshore has seen the discovery of 9 hydrocarbon fields with the aggregate gas, oil and condensate reserves making up 1.2 tcm, 394.4 mln t and 88.5 mln t, respectively. The prospective hydrocarbon resources in Sakhalin’s offshore exceed 6 btce.
In November 2003 the Gazprom Board of Directors decided to develop its business in Eastern Siberia and the Far East including the Krasnoyarsk and Khabarovsk Krais, the Irkutsk and Sakhalin Oblasts as well as the Sakha Republic (Yakutiya).
In 2006 Gazprom and the Sakhalin Oblast Administration signed the Agreement for cooperation and the Regional Gasification Agreement.
On December 21, 2006, OAO Gazprom, Royal Dutch Shell plc, Mitsui & Co., Ltd. (Mitsui) and Mitsubishi Corporation signed the Protocol on Gazprom’s joining Sakhalin Energy Investment Company Ltd. (Sakhalin-2 project operator) as the main shareholder.
In pursuance of the January 30, 2007 Order of the Gazprom Management Committee Chairman Alexey Miller, the Coordinating Committee was set up for Gazprom’s participation in Sakhalin oil and gas projects and joint implementation of said projects with other participants.
The main goal of the Sakhalin Representative Office is to set up the Gazprom Sakhalin Island Offshore Development Strategy.
The core business activity of the Representative Office is to coordinate Gazprom’s work in the subsurface resource and land management, licensing, taxation, pricing and is aimed at setting up favorable business conditions for Gazprom’s specialists and its subsidiaries in the region.
Information Directorate, OAO Gazprom