Gazprom Neft acquires E&P licences at Zapadno-Yubileynoye field, Yamalo-Nenets Autonomous Okrug

Gazprom Neft has acquired a licence for geological prospecting at the Zapadno-Yubileyny block, located in the Nadymsky district of the Yamalo-Nenets Autonomous Okrug, and for exploration and production (E&P) within the Zapadno-Yubileynoye field, forming part of the Zapadno-Yubileyny block. The licences have been transferred from Gazprom Dobycha Nadym LLC for the entire period of their validity, with no change in subsoil usage terms.

Geological prospecting rights acquired at the 1268.7-square-metre Zapadno-Yubileynoye subsoil block remain in force until 2017, allowing field evaluation and prospecting for hydrocarbons. The second licence, for oil exploration and production at the 448.75-square-metre Zapadno-Yubileynoye field, remains in force until 2032. As at 1 January, 2015, recoverable reserves of oil and gas condensate are estimated at 1.765 and 0.353 million tonnes of oil (mt, category C1), respectively, and 106.758 and 21.352 mt category C2.