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18

TNK-BP's Rusia Petroleum May Lose Kovykta Field

The license for Kovykta gas field development will be withdrawn from Rusia Petroleum if a new study confirms underproduction

The Natural Resources and Environment Ministry sent a new warning to TNK-BP that it could lose its huge Kovykta gas field as talks over its sale to Gazprom have been stalled for more than a year.

Rusia Petroleum should have increased output there to 9 billion cubic meters per year, as it is demanded by the license.

But Rusia Petroleum has said it could not produce more than 2 bcm at the field because it had to cover only local gas needs after Gazprom banned its plan to use Kovykta for gas exports to China.

It is unknown whether this fact will be taken into consideration, meanwhile Minister Yury Trutnev expresses his opinion, saying that, "there are no grounds for another extension of the license".

If a new study confirms underproduction, TNK-BP's Rusia Petroleum will obviously lose Kovykta Field.

Author: Ksenia Kochneva