Sktokman Contracts Signed, Sealed & Delivered by 2010

Shtokman Field
(Click to Enlarge)

Shtokman Field, Russia
(Click to Enlarge)

Shtokman JV Partners
(Click to Enlarge)

According to Yuri Komarov, Chief Executive of Shtokman Development AG, contracts will be finanlized in time for an investment decision for the massive Shtokman field, which lies offshore Russia in the arctic waters of the Barents Sea, reports Dow Jones.

Speaking at a natural gas conference in Berlin, Komarov confirmed that said contracts will be put into place so that the Shtokman consortium will be able to tag a final investment price during the first quarter of 2010, the report noted.

Estimated to hold 3.8 trillion cubic meters of gas and 37 million tons of gas condensate, Shtokman is being developed by a consortium consisting of Gazprom (51%), Total (25%) and Statoilhydro (24%). 

On the company's website, Gazprom noted that the Shtokman gas and condensate field will become a major resource base for Russian pipeline gas as well as liquefied natural gas (LNG) exports to the Atlantic Basin markets. Phase I natural gas and LNG production from the field is expected to commence via pipeline in 2013 and 2014, respectively.




Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Laboratory Technician
Expertise: Laboratory Ops / Tech|Petroleum Engineering|Production Testing
Location: Bakersfield, CA
Reservoir Engineer
Expertise: Reservoir Engineering
Location: Houston, TX
Production Engineering Supervisor Job
Expertise: Engineering Manager|Production Engineering
Location: San Antonio, TX
search for more jobs

Brent Crude Oil : $46.65/BBL 1.78%
Light Crude Oil : $44.24/BBL 1.98%
Natural Gas : $3.04/MMBtu 0.33%
Updated in last 24 hours