Kovykta field

Kovykta Field

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Kovykta field

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Description:
The Kovykta gas condensate field is one of the largest undeveloped natural gas fields in Eastern Siberia, Russia. The field is located in the northern part of the Irkutsk Oblast, in the Zhigalovo and Kazachinsko-Lensk districts.

History

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.

Reserves

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.

Developer

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...
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