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Friday, September 2, 2011

Gazprom Neft Buys Oilfield in Orenburg Region

- Gazprom Neft Buys Oilfield in Orenburg Region

Friday, September 02, 2011
OAO Gazprom Neft

The Gazprom Neft Group has acquired 100% of ZAO Centre of Science-Intensive Technologies, which holds exploration and production licenses for hydrocarbons in the Tsarichanskoye field – the largest of those discovered in the Orenburg region in recent years. According to Gazprom Neft's estimates, recoverable hydrocarbon reserves in the field may exceed 25 million tons.

"Gazprom Neft is familiarizing itself with a new territory – the Orenburg region, which will become, in the long run, another oil production center for the company. Gazprom Neft is planning to expand its presence in the region, both through the development of the underlying asset – the Eastern part of the Orenburg field, and through engaging other blocks to ensure a synergistic effect," said Vadim Yakovlev, the First Deputy CEO of Gazprom Neft.

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