Project Profile
Value: Undisclosed
Location: Krasnoselkupsky District of the Yamal-Nenets Autonomous Okrug, Russia
Production: 25 bcm per year
Licence expiry: December 2043
Start-up Year: October 2007
The gas from the Yuzhno-Russkoye oil and gas field is the key resource for the Nord Stream pipeline which supplies Germany directly with Russian gas.
The field is located in the Krasnoselkupsky District of the Yamal-Nenets Autonomous Okrug. The Yuzhno-Russkoye field ABC1 reserves amount to 833.5 billion cubic metres of gas, C2 reserves – 180.9 billion cubic metres of gas and 20.35 million tons of oil and gas condensate. The field exploration and development license is owned by Severneftegazprom, which shareholding is split among Gazprom, BASF and E.ON Ruhrgas.
In 2007 Gazprom and BASF AG made an asset swap deal enabling Gazprom Group to increase its stake in the authorised capital of WINGAS GmbH up to 50% minus one share. Meanwhile, BASF AG acquired 25% minus three ordinary registered shares and plus three preference non-voting shares in the authorised capital of Severneftegazprom. Gazprom Group also acquired a 49% stake in the authorised capital of Wintershall AG (license holder for hydrocarbons development and production in Libya under concession agreements). In October 2009 Gazprom and Uniper (previously E.ON) closed the asset swap deal. As a result of the deal, Uniper acquired a 25% stake minus three ordinary registered shares plus three preference non-voting shares in Severneftegazprom. Gazprom, on its part, acquired a 49% stake in Gerosgaz which owns 2.93% of Gazprom shares, thus transferring the full ownership of these shares to Gazprom.
Field commissioning:
In October 2007 the start-up complex of the field was put into operation. In August 2009 the annual design capacity of 25 billion cubic metres per year was reached one year ahead of schedule, due to an increase in the number of production wells up to the projected level (142 wells). Geological exploration of the field is ongoing. Work is underway to increase the production well stock and to develop the infrastructure. In October 2009 the Federal Subsurface Use Agency took a decision to extend the effective period of the License for geological survey and hydrocarbons production from the Yuzhno-Russky block until December 31, 2043.
Operators:
Severneftegazprom: Operator
OMV: 24.99% interest