Gazprom’s Management Committee addressed paramount measures to be stepped up for the Yuzhno-Russkoye field commissioning.

The Management Committee ordered Severneftegazprom to start developing the Yuzhno-Russkoye oil and gas field in 2004 and bring it on stream in 2007.

The Project is being financed by Gazprombank. Gazprom’s core business departments received instructions to agree on the terms and conditions of an investment agreement with a bank as well as to earmark funds for the Yuzhno-Russkoye field operation within Gazprom’s Investment Program for 2005.

Reference:

Officially explored and developed by Severneftegazprom, a 100% Gazprom subsidiary, the Yuzhno-Russky oil and gas play of natural resources is located in the Krasnoselkup district of the Yamal-Nenets Autonomous Area.

The Yuzhno-Russkoye field of the Yuzhno-Russky oil and gas play of natural resources has been identified as the major feedstock base for gas deliveries by the North-European gas pipeline.

The Yuzhno-Russkoye field development and the North-European gas pipeline construction Projects are among Gazprom’s investment projects being implemented through project financing.

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