JOGMEC canceled contract with Gazprom Neft for Ignyalinsk field

Noam Stiekema

The Japan Oil, Gas and Metals National Corporation (JOGMEC) decided not to renew the agreement for cooperation with Gazprom Neft at the Ignyalinsk field of Chonsky project in Eastern Siberia. The contract between the both companies was signed in 2012, but the Japanese corporation decided to get out from the project and not to renew […]

JOGMEC

JOGMECThe Japan Oil, Gas and Metals National Corporation (JOGMEC) decided not to renew the agreement for cooperation with Gazprom Neft at the Ignyalinsk field of Chonsky project in Eastern Siberia. The contract between the both companies was signed in 2012, but the Japanese corporation decided to get out from the project and not to renew the cooperation proposal. JOGMEC remained in the project, as it has a priority right in negotiations with Gazprom Neft for contract at Ignyalinsk field, but after the contract was given to CEFC China Energy during the last week, the Japanese company withdrew from the project. According to the new contract CEFC China Energy will work together with Gazprom Neft at Chonsky project in the Ignyalinsk, Vakunaysk and Tympuchikansk sections.

“The document does not create obligations for the parties, and does not limit the right of the company to develop cooperation with third parties”, said Gazprom Neft.

These deposits are included in Chonsky project. In the spring of 2013, Gazprom Neft has started pilot development Tympuchikansk section and according to the results of exploration work conducted in 2014, total reserves of the three sites in category C1 + C2 exceed 210 million tons of oil and 270 billion cubic meters of gas.

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