Gazprom creates company for shelf oil, gas production systems

ST. PETERSBURG, Oct 4 (PRIME) -- Russian gas giant Gazprom has established a company to develop systems for underwater production of oil and natural gas on the shelf, including the Yuzhno-Kirinskoye field off the island of Sakhalin in the Far East of the country, Deputy CEO Vitaly Markelov said Tuesday at an International Gas Forum.

“The U.S. account for 81% of the market for systems of underawater production of minerals, and they cannot take part in supplies right now. Russian companies have no experience of making equipment for underwater production right now,” he said.

“The task to create a national system for underwater production was relevant for Gazprom even before the sanctions…In Gazprom, company Gazprom 355, which was established in March, is fulfilling the goal,” he said.

Reserves of the Yuzhno-Kirinskoye field are estimated at 706.1 billion cubic meters of gas and 110.6 million tonnes of condensate. On August 7, the U.S. blocked supplies of equipment for the field’s development.

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