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2009 November 27   14:16

Gasprom to decide on Shtockman investments in 2010

Gasprom company (Russia) will make a final decision on investments into Stockman deposit development project in 2010. Implementation of the first stage of the project has been discussed today in Paris at a meeting of Alexei Miller, Chairman of the Board of Gasprom OJSC, Christophe de Margerie, Acting Director of Total concern with Vladimir Putin, Chairman of the RF Government, being on his business visit to France, reported Gasprom press-service.

The parties discussed the course of implementation of the first stage of Stockman deposit development project, including the work of operating-companies occupied in preparation of final investment decision making in 2010, was stated.

It is necessary t remind that on July 13, 2007 Gasprom and Total signed a framework agreement on basic co-operation terms in development of first stage of Shtockman gas-condensate deposit. An equal agreement was signed between Gasprom and StatoilHydro on October 25, 2007.

A special purpose entity Shtockman Development AG was founded in February, 2008 under the agreement. Gasprom’ stake in the entity’s charter capital amounts to 51%, Total - 25%, StatoilHydro - 24%.

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