The town of Novy Urengoy (Yamal Nenets Autonomous Area - YaNAA) today hosted the inauguration of the Pestsovaya area at the Urengoyskoye oil and gas condensate field.

The ceremony was attended by Gazprom’s delegation led by Alexander Ananenkov, Deputy Chairman of Gazprom’s Management Committee.

“Gazprom has consecutively implemented its long-term strategy targeted at increased gas production, with the Pestsovoye field playing an important role in this process. On bringing the field to its nominal capacity, we’ll annually extract 27.5 bcm of gas here. This is a substantial contribution into providing gas deliveries both to domestic and foreign consumers,” – underlined A. Ananenkov in his greeting speech.

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The Pestsovaya area of the Urengoyskoye oil and gas condensate field is located in YaNAA’s Nadym district, 160 northwest of the town of Novy Urengoy.

The Pestsovaya area is being developed by Urengoygazprom, one of the Gazprom Group’s leading gas production subsidiaries.

Brought into operation in October 2004, the Pestsovaya area nowadays includes 62 wells daily producing an average of 32 mln cu m.

1.5-2 bcm of gas is projected to be withdrawn from the area in 2004 and 12.6 bcm, in 2005, with a 27.5 bcm/y designed capacity to be reached by year-end 2006.

Incorporated in May 2002, Gazpromstroyengineering, a Gazprom 100% subsidiary, is acting as general contractor for the Pestsovaya area development.

Gazpromstroyengineering’s major businesses are building, reconstructing, upgrading and overhauling gas production and transmission facilities as well as serving as general contractor at Gazprom’s investment construction facilities.

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