Gazprom Reports New Sakhalin Discovery

MOSCOW (Dow Jones)

Russian gas producer OAO Gazprom (GAZP.RS) said Friday it has discovered a new gas field off the Sakhalin island in the country's Far East.

Gazprom plans exploration work over the next three years at the field, which is part of the Kirinsky block at the Sakhalin-3 project.

Reserves at the Sakhalin-3 project are estimated at 1.4 trillion cubic meters, of which 1 trillion are in the Kirinsky block.

Gazprom plans to start production from Kirinsky in 2014.

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