Russia's Gazprom Neft will start gas output at Eastern Siberia project in 2026
VLADIVOSTOK, Russia, Sept 5 (Reuters) -Gazprom Neft SIBN.MM, the oil arm of Russian energy giant Gazprom GAZP.MM, will start gas output at its Chona project in Eastern Siberia and will have infrastructure in place for oil output there in 2026, company head said on Thursday.
Far-flung hydrocarbon riches in Eastern Siberia are crucial for Russia's oil and gas production as fields in Western Siberia are becoming increasingly depleted after several decades of production.
"The company sees great potential for projects in Eastern Siberia, since they are focused on the supply of hydrocarbons to promising markets in the Asia-Pacific countries," Alexander Dyukov told reporters on the sidelines of the Eastern Economic Forum in Russia's Pacific port of Vladivostok.
The fields are located in proximity to East Siberia - Pacific Ocean oil pipeline as well as to the Power of Siberia gas pipeline to China.
They have a complex geological structure, which is challenging for production.
Gazprom Neft develops Vakunaisk and Tympuchikansk gas blocks at the Chona cluster. Their recoverable reserves are put at more than 110 billion cubic metres.
Ignyalinsk oilfield is also a part of the cluster.
Reporting by Olesya Astakhova; writing by Vladimir Soldatkin; Editing by Mrigank Dhaniwala
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
