Yuzhno-Russkoye field

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The Yuzhno-Russkoye field is a Russian oil and gas field located in the Krasnoselkupsky District, Yamal-Nenets Autonomous Okrug, Tyumen Oblast.

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[edit] History

The Yuzhno-Russkoye field was discovered in 1969.[1] Preparation for the development of the field started in 1997. American oil company Moncrief Oil International claims that in 1997, Gazprom's subsidiary Zapsibgazprom and Moncrief signed a contract according to which Moncrief acquired 40% of stake in the field, a claim that Gazprom does not recognize. According to the contract Severneftegazprom was established as operating company. In the following years control over Severneftegazprom was gained by Itera and later regained by Gazprom.[2] In 2004, Gazprom started negotions with BASF and E.ON over development the Yuzhno-Russkoye field. The inauguration ceremony launching work on the field was held on 18 December 2007.[3]

[edit] Technical features

The gas field lies about one kilometer below the surface.[1] The proven gas reserves of Yuzhno-Russkoye are 805.3 bcm (billion cubic meters) and estimated reserves are more than 1000 bcm of natural gas. The proven oil reserves are 5.7 million tons.[4] The planned capacity of Yuzhno-Russkoye field is about 25 bcm of gas per year. Currently there are 26 gas wells in operation producing 15 million cubic meters of natural gas per day. The Yuzhno-Russkoye field will be put officially into operation in December 2007. It is designated to become the main natural gas supply for the Nord Stream pipeline.

[edit] Operating company

The licence for the Yuzhno-Russkoye field is owned by Severneftegazprom, the subsidiary of Russian gas company Gazprom. German energy company Wintershall, the subsidiary of BASF, owns 35 per cent minus one share (25 per cent of voting shares minus one share) in Severneftegazprom. According to the agreements between Gazprom and German company E.ON, the E.ON Ruhrgas will get a 25 per cent share of Severneftegazprom minus one share.

[edit] References

  1. ^ a b "Gazprom Launches Production at Yuzhno Russkoye Gas Field", Ridzone, 2007-12-18. Retrieved on 2007-12-19. 
  2. ^ "Moncrief's history with the Yuzhno-Russkoye gas field in Russia", Moncrief Oil International. Retrieved on 2007-12-19. 
  3. ^ "Work begins on Russian giant", Upstream Online, 2007-12-18. Retrieved on 2007-12-19. 
  4. ^ "Gazprom Starts Operation of the Yuzhno-Russkoye Field", Ridzone, 2007-10-26. Retrieved on 2007-11-10. 

[edit] External links