Three stages of Shtokman field development to cost $40 billion

Expenses for implementation of three stages of development of the giant Shtokman gas condensate field on the Barents Sea shelf are estimated at USD 40 bn, said CEO of Sevmorneftegaz and Shtokman Development AG Yury Komarov. "The estimate was made based on the data of completed offshore projects. The actual value could be adjusted after procurement tenders scheduled for H209 are held", the head of the project said.