Gazprom starts transfer of Novoportovskoye field to Gazprom Neft
MOSCOW. Aug 24 (Interfax) - LLC Gazprom Production Nadym has started spinning off assets in the framework of its reorganization, according to the SPARK database.
Gazprom Production Nadym told Interfax that reformed licenses for the Novoportovskoye field and its development facilities would be transferred to the subsidiary LLC Gazpromneft Novyi Port.
The head of Gazprom Neft , Alexander Dyukov, told Interfax in June that the transfer of the first two fields (eastern section of the Orenburgskoye field and Novoportovskoye) from Gazprom to Gazprom Neft has "progressed extensively". The oil company hopes to have finished the transfer by year's end.
Gazprom Neft has been the operator of the eastern section of the Orenburgskoye oil and gas condensate field since the end of 2010. The transfer of this field should be complete in September-October.
Assessors will start to work at Novoportovskoye field once its license has been reformulated. "Nonetheless, the decision for corporate-property goals does not prevent us from continuing to prepare the field for the start of production. Also, by the way, we've already started test operations there," Dyukov said.
Gazprom Neft plans to start the transfer of the remaining fields next year.
Gazprom Neft might earmark $5 billion for the development of Novoportovskoye field, which is located in the Yamalo-Nenets Autonomous District.
Full-scale geological exploration has been implemented at the Novoportovskoye field. Design and survey work is now underway. Test production was started this year. The field's production will come to 300,000-500,000 tonnes of oil a year in 2013-2014. Full-scale development will be implemented in 2016 so that production can reach 5.3 million tonne of oil equivalent (TOE) in 2017 and 12 million-13 million TOE by 2012.
Novoportovskoye field's C1+C2 recoverable reserves come to 250 million tonnes of oil and condensate, as well as 280 billion cubic meters of gas.