The Gazprom Management Committee took note of the information about the prospects of the Vuktylsky geological and economic area in the Komi Republic.

Gazprom’s active fields in the region – Vuktylskoye, Zapadno-Soplesskoye, Pechorokozhvinskoye, and Yugidskoye – are at the final stage of development. The major Vuktylskoye field, producing gas since 1968, is depleted by about 85 per cent. Gas extracted in the Vuktylsky area is delivered to the Company’s Sosnogorsk Gas Processing Plant (GPP) and further to consumers.

In order to ensure the long-term economic efficiency of Gazprom’s production complex in the Komi Republic, a Comprehensive Development Concept for the Vuktylsky geological and economic area was drawn up. In parallel with the development of the active fields, it is planned to bring onstream the Severo-Yugidskoye and Pechorogorodskoye fields. This will provide for stable gas production in the region and guarantee the utilization of the Sosnogorsk GPP for decades to come.

The Management Committee approved the efforts undertaken at Gazprom’s facilities as part of the Concept and instructed the relevant subdivisions of the Company to conduct a feasibility study on the use of the Vuktylskoye field as an underground gas storage facility.