Gazprom, RusGazDobycha to Develop Group of Fields in Yamal-Nenets Autonomous Area

In September 2016, Gazprom and RusGazDobycha entered into the Master Agreement regarding the joint project for the development of the Parusovoye, Severo-Parusovoye and Semakovskoye fields. Among other things, the Agreement provides a framework for the establishment and operation of a project company, sets out the profitability targets of the future project and the marketing concept, including the principles of selling the produced natural gas, and contains a list of activities to be carried out during the preparatory phase prior to the final investment decision.
The Gazprom Board of Directors took notice of the information about the progress of the joint project for the development of the Parusovoye, Severo-Parusovoye and Semakovskoye fields located in the Yamal-Nenets Autonomous Area.
It was highlighted that the work was underway to set up a joint project company as stipulated by the Master Agreement on the project’s terms and conditions signed by Gazprom and RusGazDobycha.
The Board of Directors tasked the Management Committee to continue the project.
The Board of Directors approved the Long-Term Development Program of Gazprom.
The Board of Directors also considered the information about the assessment of the ‘tax maneuver’ impact on Gazprom Group in the first half of 2016.