Gazprom and Wintershall Team Up to Develop Urengoi Field

The Executive Board of Gazprom has approved a joint venture with Wintershall to develop the Achimov formations and the first experimental section of the Urengoi Field in Russia. Gazprom and Wintershall will be equal partners and the venture will be set up under Russian jurisdiction.

The field is expected to produce 118 billion cubic meters of natural gas and 29 million tons of condensate.

According to Gazprom, cooperation with Wintershall will make it possible to use new technology for drilling and developing sub-horizon wells in difficult mining-geological conditions. The operator at the Urengoi field is Yurengoigazprom.