Gazprom Announces Gas Discovery at Sakhalin III

Gazprom has announced discovery of a new field in the Kirinsky Prospect of the Sakhalin III project.

Gas and condensate inflow was reported in a prospecting well during the exploration operations of the field within the Mynginskaya geological structure in the Kirinsky Prospect. Well testing will be followed by the reserves estimation, a company statement said on Monday.

The new field is the second discovery in the Kirinsky Prospect, the statement said.

Gazprom also announced that is has received re-registration of  a licence for hydrocarbons production and geological exploration in the Kovykta gas and condensate field, pursuant to the decision by the Federal Subsurface Use Agency.

The Russian giant had in March 2011, acquired the assets of RUSIA Petroleum via an auction procedure, entitling the company to receive the subsurface operator licence for the Kovykta gas and condensate field, which holds reserves of 1.5 trillion cubic meters.

Source: Gazprom