MOSCOW (Pakistan Point News / Sputnik - 29th July, 2020) Russia's Gazprom Neft announced on Wednesday it began developing a hydrocarbon cluster consisting of five areas in the Khanty-Mansi Autonomous Region and the Tyumen Region, with the resource potential amounting to around 650 million tonnes of oil.
"Gazprom Neft has launched full-scale development of a large hydrocarbon cluster uniting licensed blocks in the Khanty-Mansi Autonomous Region and the Tyumen Region, with the resource potential of around 650 million tonnes of oil," the energy company said in a statement.
The total area of the five blocks exceeds 5,000 square kilometers (1,930 square miles), Gazprom Neft said.
The Alexander Zhagrin field is seen as the key asset of the new project. Its initial recoverable reserves are estimated at 111 million tonnes of oil. A total of 1 million tonnes of liquid hydrocarbons was produced at the field during the first year of its exploitation, with the peak production level of 6.5 million tonnes of oil per year expected in 2024, Gazprom Neft specified.
