Gazprom Neft sets up a business to develop fields in the Eastern Siberia

JSC Gazprom Neft incorporated Gazpromneft-Angara LLC on the basis of Kholmogorneftegas LLC to organize activities on oil and gas production and for the purpose of commissioning of licensed fields in the Eastern Siberia.

The company is incorporated in the city of Krasnoyarsk.

Gazpromneft-Angara LLC is the holder of licenses for development of Sredne-Teimurinsky, Bolshe-Dubchesky and Severo-Ketsky areas in the Krasnoyarsk Territory, Khotogo-Murbaisky and Tympuchikansky areas in the Republic of Sakha (Yakutia) as well as of Vakunaisky and Ignyalinsky areas in the Irkutsk Region.

At present all the areas are under prospecting and exploration. Prospect drilling is expected to be commenced in 2008.