The Kovykta gas condensate field
is one of the largest undeveloped natural gas fields
in Eastern Siberia
. The field is located in the northern part of the Irkutsk Oblast
, in the Zhigalovo and Kazachinsko-Lensk districts.
The field was discovered in 1987. In June 2007, TNK-BP
agreed to sell its stake for US$ 700 million to US$ 900 million to Gazprom
with option to buy back a 25% plus one share stake in the project.
The reserves of Kovykta amount to 2 trillion cubic meters of natural gas
and more than 83 million tons of gas condensate
. The period of active gas production in the Kovykta field is expected to be 30 years, and the period of field development about 50 years.
The field was developed by Rusia Petroleum<!-- this is not misspelling, Russia in this company name is spelled with a single 's' -->, 62.9% of which is owned by... Read More