OREANDA-NEWS. June 27, 2012. During XVI St. Petersburg International Economic Forum, Vadim Yakovlev, First Deputy CEO of Gazprom Neft, and Hironori Wasada, Executive Director, Member of the Board of Japan Oil, Gas and Metals National Corporation  (JOGMEC), signed an agreement to carry out a joint geological study of the oil reserves in the Ignyalinsky licensing block in Irkutsk region.

The agreed schedule of work requires 3D seismic study to be carried out at an area of at least 450 square kilometres by the end of 2013, tests to be completed on two existing wells and two new wells to be drilled. Following the results of these activities, the partners will make a decision on further cooperation.

The agreements reached with JOGMEC are subject to approval by Gazprom Neft’s Board of Directors and the relevant governmental bodies.

“Eastern Siberia is one of the new regions where Gazprom Neft is becoming active. The joint study of reserves in the Ignyalinsky licensing block will allow us to better understand and evaluate the prospects for developing the field. Once completed, we can then take necessary investment decisions”, said Vadim Yakovlev, First Deputy CEO of Gazprom Neft.