Gazprom transfers license for Vaneyvisskoye and Layavozhskoye fields to its joint venture with LUKOIL
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Vagit Alekperov, President of LUKOIL, took place today in St. Petersburg.
The parties discussed relevant issues pertaining to their cooperation.
Particular attention was paid to the progress and prospects of development operations at the Vaneyvisskoye and Layavozhskoye fields in the Nenets Autonomous Area.
In order to implement the project, a joint project company – Layavozhneftegaz (LVNG) – was set up in 2021. Gazprom has now transferred to LVNG the subsurface use license for the area that includes Vaneyvisskoye and Layavozhskoye.
During the next stage, LVNG will commence the design works for the development and pre-development of these fields. To that end, the company will use the data obtained through the 3D seismic surveys that were fully completed in 2021.
Gazprom and LUKOIL are bound by the 2014–2024 General Agreement on Strategic Partnership, pursuant to which, among other things, LUKOIL supplies gas into Gazprom's gas transmission system.
The Vaneyvisskoye and Layavozhskoye fields are located in the Nenets Autonomous Area to the east of Naryan-Mar. The two fields have the aggregate recoverable reserves of 27.4 million tons of liquid hydrocarbons and 225.3 billion cubic meters of natural gas.
In 2020, Gazprom and LUKOIL signed the Master Agreement on the terms of the development of the Vaneyvisskoye and Layavozhskoye fields. Among other things, the document sets out the procedure for creating a joint venture on a parity basis.
The year 2021 saw the creation of LVNG, a joint venture of Gazprom Dobycha Krasnodar and LUKOIL-Komi.