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A service for global professionals · Monday, October 22, 2018 · 465,755,882 Articles · 3+ Million Readers

Gazprom Neft expands hydrocarbon exploration area in Yamal

Russia’s Ministry of Natural Resources and the Environment has awarded Gazprom Neft a licence to explore and evaluate natural resources at the Yuzhno-Novoportovsky and Surovy licence blocks, located on the Yamal Peninsula. The licences will run for a period of seven years. The blocks cover a total area of 4,350 square kilometres.

The company’s new assets abut the Novoportovskoye field, the largest in Yamal, as well as the Yuzhno-Kamennomyssky licence block, geological exploration and development of which is being undertaken by Gazprom Neft subsidiary Gazpromneft-Yamal. The Yuzhno-Novoportovsky and Surovy licence blocks have, hitherto, been subject to poor and inconsistent geological exploration; a range of geological exploration works will be undertaken to determine their potential resources.

Vadim Yakovlev, First Deputy CEO, Gazprom Neft, commented: «This move into new exploration areas in Yamal marks the next stage in developing a major new production cluster in the Yamalo-Nenets Autonomous Okrug, and a major step forward in implementing the company’s long-term strategy. Utilising the resource potential of these new blocks will allow optimum utilisation (loading) of production and transportation infrastructure installed at the Novoportovskoye field, and enhance project viability through the synergistic effect of an integrated approach to developing assets in Yamal».

Tags: production
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