Gazprom Neft to invest over RUB 170 bln into Novoportovskoye field within 3 years

Within the 3-year period Gazprom Neft is going to invest over RUB 170 bln into the development of the Novoportovskoye field, the Company’s press center says. Alexander Dyukov, Chairman of Gazprom Neft’s Management Board, and Dmitry Kobylkin, Governor of the Yamal-Nenets autonomous region, have signed a three-year social and economic agreement setting forth principles of cooperation and major joint projects of the Company and the Region.

Yamal-Nenets autonomous region accounts for about one third of Gazprom Neft’s consolidated production. The Company annually invests some RUB 20 bln into the production programmes on the Yamal peninsula. Major tasks of those investments are to support basic production, geological and engineering operations and involvement of hard to recover reserves into the development process.

The Novoportovskoye field is one of the largest oila and gas condensate fields being developed in the Yamal-Nenets autonomous region. The recoverable reserves of C1 and C2 of the Novoportovskoye field hold over 250 million tonnes of oil and condensate, as well as more than 320 billion cubic metres of gas.

The new type of oil, “Novy Port” is superior to Brent oil in quality as it has a lower sulphur content (roughly 0.1%). 

The production facilities have been constructed to the highest international standards and are designed to have minimal impact on the environment and to ensure reliable performance in extreme weather conditions. Full scale production at the Novoportovskoye field is scheduled for 2016.

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