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Gazprom Neft Acquired Two New Oilfields in YNAD

On November 23 JSC Gazprom Neft closed the transaction to acquire Severo-Romanovskoye and Ortyagunskoye oilfields situated in the Yamalo-Nenets Autonomous District.

Severo-Romanovskoye license area is located in direct vicinity to oilfields developed by JSC Gazprom Neft, i.e. the Romanovskoye, Sugmutskoye, Yuzhno-Pupeiskoye and Umseiskoye fields.

Recoverable oil reserves in category C1 at the Severo-Romanovskoye license area total 1 million 688 thousand tons, in category C2 – 2 million 080 thousand tons, and dissolved gas reserves in category C1 total 332 million cu. m, in category C2 – 691 million cu. m.

Gazprom Neft plans to drill and develop up to 20 producing oil wells in the Severo-Romanovskoye license area by 2009.

The Ortyagunskoye potentially oil bearing area borders on the Gazprom Neft ‘s Sporyshevskiy and Sredne-Iturskiy oilfields. Eastern part of the new oilfield discovered in the Sredne-Iturskiy license area is located in that area.

Recoverable reserves in the Ortyagunskoye area estimated at 5.5 million tons.

Gazprom Neft intends to complete seismic survey of the entire Ortyagunskoye area and drill exploratory and producing oil wells.