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4-Traders Homepage  >  Equities  >  MOSCOW INTERBANK CURRENCY EXCHANGE  >  Gazprom PAO    GAZP   RU0007661625

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Gazprom OAO : Gazprom completes production wells drilling at Nizhne-Kvakchikskoye field in Kamchatka

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03/30/2012 | 05:14pm CEST

Gazprom completed drilling of five gas condensate production wells at the Nizhne-Kvakchikskoye field. Once the construction and connection of new wells is finished, the total number of wells will reach nine - that will create the conditions required to increase gas output to the projected level - from 175 to 575 million cubic meters a year.

This year the Company plans to complete the Kshukskoye and Nizhne-Kvakchikskoye gas and condensate fields pre-development as part of the Project on Gas Supply to Kamchatka Krai. Production and auxiliary facilities are currently being constructed, installed and pre-commissioned at the fields.

According to Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, as soon as in 2013 the Company will be technically equipped to daily supply consumers in Kamchatka with 2 million cubic meters of gas produced from both fields, which is twice as much as the present-day level.

Background

In September 2007 the Russian Government made a decision to involve Gazprom in the Project on Gas Supply to Kamchatka Oblast, Phase 1 - Gas Supply to Petropavlovsk-Kamchatsky.

As part of the project, Gazprom started pre-development of the Kshukskoye and Nizhne-Kvakchikskoye fields on the western coast of the Kamchatka Peninsula. In 2011 the Kshukskoye field output was raised to the projected level - 175 million cubic meters a year and Phase 1 of the Nizhne-Kvakchikskoye field was put into operation with the same output. It is planned to annually produce 750 million cubic meters of gas from these fields in the future.

In order to supply consumers in the Kamchatka Krai with gas, Gazprom promptly completed construction and in 2010 put into operation the Sobolevo - Petropavlovsk-Kamchatsky gas trunkline with the length of 392 kilometers and the annual gas throughput of up to 750 million cubic meters.

You may use the photos provided that the source is acknowledged.

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This press release was issued by OAO Gazprom and was initially posted at http://www.gazprom.com/press/news/2012/march/article132411/ . It was distributed, unedited and unaltered, by noodls on 2012-03-30 17:12:02 PM. The issuer is solely responsible for the accuracy of the information contained therein.

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Financials ($)
Sales 2016 88 358 M
EBIT 2016 13 659 M
Net income 2016 14 638 M
Debt 2016 31 519 M
Yield 2016 4,82%
P/E ratio 2016 4,00
P/E ratio 2017 3,27
EV / Sales 2016 0,92x
EV / Sales 2017 0,84x
Capitalization 49 738 M
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Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 2,33 $
Spread / Average Target 11%
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NameTitle
Alexei Borisovich Miller Deputy Chairman & Chairman-Management Board
Viktor Alexeevich Zubkov Chairman
Timur Askarovich Kulibayev Independent Director
Vladimir Alexandrovich Mau Director
Andrey Igorevich Akimov Director
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TOTAL4.36%120 910
NK ROSNEFT' PAO--.--%56 436
PETROLEO BRASILEIRO SA..84.33%55 413
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