A working meeting between Alexey Miller, Gazprom’s Management Committee Chairman, and Sergey Bogdanchikov, Rosneft’s President, was held today at Gazprom’s headquarters.

The parties discussed the Production Sharing Agreement terms for the Prirazlomnoye oil field development project; the progress in implementing the Shtokmanovskoye gas condensate field development project and the prospects of comprehensive development of East Siberian and the Far Eastern oil and gas fields.

Reference:

On October 4, 2001, Gazprom and Rosneft signed the Agreement on joining efforts to develop the Prirazlomnoye and Shtokmanovskoye oil and gas condensate fields.

To implement the Agreement, the parties set up on a par the Sevmorneftegaz joint venture.

At present, the parties are constructing an offshore ice-resistant platform to develop the Prirazlomnoye field. The platform is to be commissioned in 2004. The parties plan to start producing oil from the Prirazlomnoye field in 2005.

DIVISION OF RELATIONS WITH MASS MEDIA