Rosneft approves natural gas reserves development

Rosneft Board of Directors have approved a document entitled 'The integrated project for the development of gas reserves (Cenomanian PK 1 and Turonian layers) of the Kharampur field'.

The development of the Kharampur gas field is an important step forward in the implementation of the company’s gas strategy in a bid to raise the value of its gas business. The gas to be produced at Kharampur will be one of the key sources of supplies under the long term contracts by Rosneft.

Phase 1 of the project envisages the production of more than 190 billion m³ of natural gas from the reserves of the Kharampur field. The decision on Phase 2 of the project, which envisages the annual production of 24 billion m³ of gas, is to be made in 2018.

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