Gazprom Neft developed a mid-term investment program to dispose of associated gas

JSC Gazprom Neft developed and approved the mid-term investment program for 2008-2010 to dispose of, and to raise efficiency of use of, the associated gas.

Total investments into the projects on associated gas disposal in 2008-2010 will make RUR 17.6 bln, out of which more than RUR 12 bln will be allocated to construction of gas-collecting systems and gas-processing facilities, about RUR 5 bln will be applied to develop own generation capacity and about. RUR 600 mln will be used to audit the existing associated gas disposal resources.

In 2008, Gazprom Neft will spend RUR 5.5 bln to increase the efficiency of associated gas usage.

The developed action program will allow to improve the targeted use of hydrocarbon materials produced by Gazprom Neft, minimize environmental restrictions, ensure uninterrupted power supply for oil production facilities, reduce taxation risks and to increase profit from the sale of extra associated gas and products of its processing.

Construction of new gas pipeline is envisaged from Ety-Purovskoe, Meretoyakhinskoe, Severo-Yangtinskoe, Chatylkinskoe, Kholmistoe, Yuzhno-Udmurtskoe, Ravninnoe and Vorgenskoe fields developed by Noyabrskneftegaz and Urmanskoe and Shinginskoe fields of Gazpromneft-Vostok.