Gazprom discovers new gas deposit on Yamal shelf

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AK&M 12 October 2020 12:40

A new gas deposit was discovered at the Leningradskoye field of the Yamal gas production center, Gazprom informed.

Commercial gas inflow was obtained with a flow rate of about 600,000 cubic meters per day as a result of drilling and testing of an exploratory well. This proves that the new deposit contains substantial amounts of gas. Therefore, the field's commercial value is now much higher than before.

This marks the fourth major discovery made by Gazprom on the shelf of the Yamal Peninsula in the Kara Sea over the last two years.

The company will calculate the newly-discovered reserves of the Leningradskoye field and present the findings to the State Reserves Commission in order to record them in the state register, the statement notes.

The Leningradskoye gas and condensate field is located in the Kara Sea within the Leningradsky licensed block. The field's current recoverable gas reserves are estimated to total 1.9 trillion cubic meters and are classified as unique.

In 2019, Gazprom discovered the Dinkov and Nyarmeyskoye fields on the shelf of the Yamal Peninsula in the Kara Sea. In 2020, the company discovered the 75 Years of Victory field on the Yamal shelf.

The Dinkov field is situated within the Rusanovsky licensed block. The field is unique in terms of gas reserves: its recoverable reserves in the C1+C2 categories amount to 390.7 billion cubic meters.

The Nyarmeyskoye field is located within the Nyarmeysky licensed block. In terms of gas reserves, it is a large field with the recoverable amount of 120.8 billion cubic meters in the C1+C2 categories.

The 75 Years of Victory field is situated within the Skuratovskaya prospect. From the point of view of gas reserves, the field is classified as large: its recoverable gas reserves in the C1+C2 categories total 202.4 billion cubic meters.

The company also has a subsurface use license for the Rusanovskoye field on the Yamal shelf.

PJSC Gazprom (tax number: 7736050003) is the world's biggest gas company. Its authorized capital is RUB 118.367 billion and consists of 23,673,512,900 common shares with a face value of 5 rubles. The company has several hundred thousand shareholders in Russia and abroad. The Russian Federation owns more than 50% of Gazprom's shares. The Bank of New York Mellon is the depositary of Gazprom's ADR program.

IFRS profit of Gazprom for 2019 dropped by 17% to RUB 1.269 trillion from RUB 1.529 trillion a year earlier. Profit attributable to shareholders of PJSC Gazprom amounted to RUB 1.203 trillion against RUB 1.456 trillion. Profit from sales decreased by 42% to RUB 1.12 trillion from RUB 1.93 trillion, pre-tax profit by 12.2% to RUB 1.627 trillion from RUB 1.852 trillion. Sales revenue (net of excise tax, VAT and customs duties) decreased by 7% to RUB 7.659 trillion. The lower sales revenue mainly results from a lower revenue from gas sales to Europe and other countries.