Less new gas resources on Yamal

Publish date: March 20, 2006

Petroleum companies in 2005 found less new gas resources on the Yamal Peninsula compared to the previous year.

According to the regional administration in the Yamal-Nenets Autonmous region, a total of 283.5 billion m3 of new gas reserves were found in 2005, which is 19 percent less than in 2004, BarentsObserver reported.

The companies also found 13 million tons of new oil resources on the peninsula, which is 45 percent more than in 2004. The amount of gas condensate found totaled 18.5 million tons, which is up 229 percent from 2004. According to Alexander Bruy, the bigger amounts of detected oil resources come as a result of the opening of two new major oil fields.