OREANDA-NEWS. November 30, 2012. ITERA Oil and Gas Company plans to commence development and construction of fields of Kynsk-Chaselsk group of fields (the Yamalo-Nenets Autonomous District) in 2013, - the Company stated, reported the press-centre of ITERA.   

The planned production capacity is to be 6.5 billion cubic meters of gas by 2018. Additional efficiency is expected due to development of the Cenomanian and Senonian gas accumulations. They are to improve economics of the project.

In the long term, the technological complex of the Kynsk-Chaselsk group of fields shall become an efficient tool for solving a task of recycling affiliated gas at the developed and planned for development oil fields of OJSC NK Rosneft in the Region.

The gas that is expected to be produced in the fields of Kynsko-Chaselskoeye NefteGaz, LLC, shall be transported to gas-consuming enterprises of large holdings taking into account the most economical gas transport flows, including to the Sverdlovsk Region. The Kynsk-Chaselsk license area includes five fields: Kynskoeye, Fakhirovskoeye, Novo-Chaselskoeye (including the Naumov area), Ust-Chaselskoeye and Verkhne-Chaselskoeye. Kynsko-Chaselskoeye Neftegaz, LLC, owns the development license. Initial recoverable reserves (АВС1 + С2) are 263 billion cubic meters of gas, 14.1 million tons of condensate and 26 million tons of oil.

ITERA Oil and Gas Company, LLC, is a joint venture of OJSC NK Rosneft with a 51% stake, and Companies of ITERA International Group of Companies with a 49% shareholding, one of the largest independent producers and sellers of natural gas in Russia. The Company has been developing its own production of gas in the Yamalo-Nenets Autonomous District since 1998. The Company has invested over USD 2 billion in development of the gas industry. Overall, over 250 billion cubic meters of gas was produced in gas fields developed by Itera. The total volume of gas sold is about 600 billion cubic meters.