Gazprom Neft to close purchase of Novoportovskoye field from Gazprom in Q1
MOSCOW. Oct 18 (Interfax) - Gazprom Neft will close the deal to buy the Novoportovskoye oil field from Gazprom in the first quarter of 2012, Gazprom Neft's first deputy general director, Vadim Yakovlev said.
The appraisal of this asset has not been approved yet, Yakovlev told reporters. "It is ready, and is now being approved. We expect that the deal will be closed in the first quarter of 2012," he said.
Gazprom is transferring its oil fields to oil division Gazprom Neft. The process of transferring the Eastern section of the Orenburg field to the oil company has already begun, and the Prirazlomnoye field is also set to be transferred.
Exploration work at Novoportovskoye has been fully completed, and design and survey work is now underway. Pilot production began in 2011. The field is expected to achieve annual production of 300,000-500,000 tonnes in 2013-2014. Full scale development of the field is scheduled to begin in 2016 with the aim of reaching total production of 5.3 million tonnes of oil equivalent by 2017 and 12 million-13 million tonnes by 2021.
Novoportovskoye has C1+C2 recoverable reserves of 250 million tonnes of oil and condensate and 280 billion cubic meters of gas.
The license to Novoportovskoye and its infrastructure is being transferred to LLC Gazprom Neft Novy Port, a new firm spun off from LLC Gazprom Dobycha Nadym, for subsequent sale to Gazprom Neft. Meanwhile, Gazprom Neft has already begun pilot production at the field.
