OREANDA-NEWS. October 25, 2010. Vladimir Putin, Chairman of the RF Government, held a meeting on the draft Master Plan for development of the gas industry until 2030 in Novy Urengoi. A cooperation agreement between the Government of the Yamalo-Nenets Autonomous District (YaNAD) and ITERA for 2010-2015 was signed within the framework of the meeting, reported the press-centre of ITERA.

The document was signed by Dmitri Kobylkin, the YaNAD Governor, and Igor Makarov, Chairman of the Board of Directors of ITERA Oil and Gas Company, LLC. The agreement was intended to help develop the economics and improve the investment climate and business environment, as well as to create favorable conditions to solve key social objectives of the District.

Dmitri Kobylkin pointed out that the District had a constructive relationship with ITERA. "The Company has been participating in charitable activities, construction of facilities in the central city of the District and other important social facilities for a number of years", - the Yamal Governor said.

When commenting on the event, Igor Makarov specified that the Agreement created favorable conditions for geological survey, exploration and production of hydrocarbons in the District, rational usage of subsurface resources and land, complex development of oil and gas fields based on implementation of advanced technology. He also reported that the development and implementation of investment projects related to production of hydrocarbons, efficient usage of mineral resources base, and increased investment in the mineral resources base reproduction have been envisioned. Implementation of projects and programs related to protection of the environment and the abidance by the legal requirements to ensure ecological safety made the most important field of cooperation.

YaNAD and ITERA are connected by long business relations. Igor Makarov, after he addressed the meeting participants, reminded journalists that the Company had put seven gas fields in the District into commercial operation within the 12 past years. ITERA had supplied about 200 billion cu m of natural gas to the Sverdlovsk Region alone within that period. This came true thanks to the support provided by OAO Gazprom, the Company’s strategic partner, and, without doubt, from the Government of Russia, - the ITERA head stressed. According to I. Makarov, the prospects for further expansion of the Company’s production base depended on development of gas fields in YaNAD. Most investments were directed to development of the Beregovoye field and Pyreinoye field and preparation for commissioning the Khadyriakhinskoe field in 2010. ITERA offered Gazprom the Program for development for smaller and medium-sized fields with the reserves of up to 50 billion cu m of gas.

Igor Makarov believed that independent gas producers had large resource potential, modern technology and sufficient financial resources for them to participate in the General Scheme of Development of Fuel and Energy Complex of the country.