Gazprom Neft and JOGMEC of Japan commence joint geological study of Ignyalinsky licensing block
, press release
During XVI St. Petersburg International Economic Forum, Vadim Yakovlev, First Deputy CEO of Gazprom Neft, and Hironori Wasada, Executive Director, Member of the Board of Japan Oil, Gas and Metals National Corporation (JOGMEC), signed an agreement to carry out a joint geological study of the oil reserves in the Ignyalinsky licensing block in Irkutsk region.
The agreed schedule of work requires 3D seismic study to be carried out at an area of at least 450 square kilometres by the end of 2013, tests to be completed on two existing wells and two new wells to be drilled. Following the results of these activities, the partners will make a decision on further cooperation.
The agreements reached with JOGMEC are subject to approval by Gazprom Neft’s Board of Directors and the relevant governmental bodies.
“Eastern Siberia is one of the new regions where Gazprom Neft is becoming active. The joint study of reserves in the Ignyalinsky licensing block will allow us to better understand and evaluate the prospects for developing the field. Once completed, we can then take necessary investment decisions”, said Vadim Yakovlev, First Deputy CEO of Gazprom Neft.
NOTES FOR EDITORS
The Ignyalinsky field is in the Katangsky district of the Irkutsk region, on the border with the Sakha (Yakutia) Republic. The license to develop the block was obtained in 2007 and is held by JSC Gazpromneft-Angara. The field’s initial recoverable C1 and C2 reserves are estimated to exceed 40 million tonnes of oil.
The Ignyalinsky block is one of three sites in the Chonsk group where Gazprom Neft is undertaking geological studies. The other blocks in the group, which are located around 80 kilometres from the East Siberia/Pacific Ocean pipeline, are the Tympuchikansky and Vakunaisky blocks. In 2011, Gazprom Neft increased oil reserves in the Chonsk group fivefold to 125 million tonnes, and gas reserves 4.5-fold to 225 billion cubic metres in categories C1 and C2.