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The Shtokman field will be the resource base for Russian gas exports to the Atlantic basin markets |
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The Deepsea Delta semi-submersible drilling rig |
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In September 2006 Gazprom successfully finished drilling of exploration well #7 in the Shtokman field |
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Gazprom, Total and StatoilHydro are the partners for the Shtokman field development, phase one |
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Strong track record, enormous resources and state-of-the-art technologies of partner companies guarantee the success of this unique project |
Strategy
The Shtokman gas and condensate field development project is of strategic significance for Gazprom. The field will become a resource base for Russian pipeline gas as well as liquefied natural gas (LNG) exports to the Atlantic Basin markets.
Field Description
Shtokman gas and condensate field was discovered in 1988. This field is located in the central part of the Russian sector of the Barents Sea shelf, about 600 km northeast of the city of Murmansk at local sea depths varying from 320 to 340 m.
The field’s C1+C2 reserves account for 3.8 tcm of gas and circa 37 mln t of gas condensate.
Project Major Specifications
The Shtokman development project envisages annually producing some 70 bcm of natural gas and 0.6 mln t of gas condensate comparable to annual gas output of Norway, one of the largest European gas suppliers.
Phase one contemplates annually producing 23.7 bcm of natural gas with the startup of gas supply via the gas pipeline due 2013, and liquefied natural gas supply– 2014.
License Holder
Sevmorneftegaz (a 100 per cent subsidiary of Gazprom) holds the license to search for, explore, and produce gas and condensate from the Shtokman field.
Cooperation within the Project
On July 13, 2007 Gazprom and Total signed a Framework Agreement on the Main Conditions of cooperation at the first phase of the Shtokman gas condensate field development. On October 25, 2007 Gazprom and StatoilHydro signed an identical Agreement.
Strong assistance to the project execution is scheduled to be received from the Murmansk Oblast Administration and the Russian Federation Navy entities based on the Cooperation Agreements with Gazprom signed in November 2005.
October 2006 saw the successful completion of the year-long public hearings surrounding the project in the Murmansk and Leningrad Oblasts, and the Republic of Karelia.
Special Purpose Company
On February 21, 2008 Gazprom, Total and StatoilHydro signed a Shareholder Agreement establishing Shtokman Development AG special purpose company. Gazprom owns 51 per cent, Total - 25 per cent and StatoilHydro - 24 per cent of the company’s stock.
The Company will be the owner of the first phase infrastructure of the Shtokman gas condensate field for 25 years since its commissioning.
The relations between the special purpose company and Sevmorneftegaz will be based on a contract stipulating that Shtokman Development AG will bear all the financial, geological and technical risks associated with the extraction of gas and condensate as well as LNG production.
Gazprom retains 100 per cent of Sevmorneftegaz’s stock and all rights to market an output.
Ecology
On October 23, 2006 the Federal Nature Management Supervision Service (Rosprirodnadzor) granted the approval of the state ecological expertise on the investment rationale for the first phase of Shtokman field development embracing liquefied gas production and sea-borne transportation.
Project Viability Assessment
The following prerequisites speak in favor of successful execution of the Shtokman field development project:
Speech
Alexey Miller about Shtokman project development
Press Releases
July 4 2008 17:30
Construction of first drilling platform for Shtokman field initiated
February 21, 2008
Gazprom, Total and StatoilHydro create Shtokman Development Company for phase one on the Shtokman gas field
November 15, 2007
Gazprom Management Committee approves progress with “investment rationale for comprehensive development of Shtokman gas condensate field”
October 25, 2007
Gazprom and Statoilhydro sign agreement on main conditions for cooperation in phase 1 Shtokman field development
July 13, 2007
OAO Gazprom and Total S.A. sign agreement on main conditions of cooperation at first phase of Shtokman field development
July 12, 2007
Gazprom chooses French Total as partner for initial phase of Shtokman field development
October 9, 2006
Gas from Shtokman to be piped to Europe
July 24, 2006
Gazprom begins drilling well 7 in Shtokman field
January 20, 2006
Shtokman gas condensate field reserve hike approved
November 24, 2005
Gazprom and RF Navy ink Cooperation Agreement
November 10, 2005
Gazprom and Murmansk region ink Cooperation Agreement
September 16, 2005
Gazprom decides on short-list of companies – potential partners in Shtokman gas condensate field development
April 27, 2005
Gazprom and Republic of Karelia ink cooperation agreement