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GAZPROM

October 25, 2004

On Alexey Miller and Proshanto Banerjee’s working meeting

Gazprom’s Headquarters hosted today a working meeting between Alexey Miller, Gazprom’s Management Committee Chairman and Proshanto Banerjee, Chairman & Managing Director of the state-run company Gas Authority of India Limited (GAIL).

The meeting addressed potential cooperation between the companies in India’s oil&gas resources and gas transmission infrastructure development.

Alexey Miller and Proshanto Banerjee debated the implementation of the Production Sharing Agreement on Block 26 of India’s Bengal Bay onshore, signed between Gazprom, Gas Authority of India Limited and India’s Government. The parties achieved an accord to produce a cooperation agreement between Gazprom and GAIL.

Reference:

Gas Authority of India Limited (GAIL) is a leading gas transmission and distribution company exercising control over 95% of this sector infrastructure.

The Production Sharing Agreement on Block 26 of India’s Bengal Bay onshore was signed on 4 October 2000 between India’s Petroleum Ministry, Gazprom and GAIL. Said Agreement stipulates hydrocarbon exploration, production and marketing.

Block 26 is situated on India’s continental shelf in the northern Bengal Bay and contains promising oil-bearing reservoirs laying as deep as 4,000-6,500 meters. Under VNIIGAZ’s expert estimates, Block 26 overall resources account for 248-376 million tons of coal equivalent, including 319 bcm of gas, 37.6 mln t of condensate and 18.8 mln t of oil. Prospecting at Block 26 is scheduled to last for 7 years.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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