Shtokman field reserves 10% up

Publish date: January 24, 2006

Actual hydrocarbon reserves at the Shtokman gas condensate field have turned out to be 10% larger than earlier estimates suggested, a source close to the Russian Natural Resources Ministry told Interfax.

Meanwhile, according to Gazprom, the Natural Resources Ministry’s State Natural Resources Commission on January 18, 2006, endorsed the revised estimate of the Shtokman field’s reserves, which was based on data obtained through seismic prospecting using 3D modeling. “The revised estimate once again confirms the high production and economic potential of the Shtokman field,” the press release of Gazprom says.

The Shtokman gas condensate field is located in the central part of the Russian shelf in the Barents Sea, 650 kilometers from Murmansk. The Shtokman gas condensate field is among the largest mineral fields in the world. It is being readied for development with an aim to export liquefied natural gas to the U.S. and other countries.