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Gazprom Bought 51 pct Gas Field

Gazprom bought out 51 percent in Sibneftgaz

Gazprom bought out 51 percent in Sibneftgaz, holder of license for Beregovoe gas condensate field.

By acquiring the asset, Gazprom has established control over Russia?s last big independent producer of gas, ITERA, Kommersant reported.

Gazprombank Board Chairman Andrey Akimov and ITERA CEO Igor Makarov entered into a cooperation agreement to develop Beregovoe field of gas condensate.

Beregovoe is located in Purovo area of Yamal-Nenets Autonomous Region. The reserves are estimated at 319.2 bcm of gas, 4.9 mln tons of gas condensate and 7.5 mln tons of oil.