Far East | Materials, extraction | Finance, business

Gazprom and TNK-BP in debate over Kovykta deal

9 Jun '09
Gazprom and TNK-BP continue debates over a possible value of the Kovykta gas deal, Gazprom reported today.

The debate reportedly goes on over Gazprom’s prospective purchase from TNK-BP of 62.8% of Rusia Petroleum, Kovykta’s project operator and licensee, and of 50% of East-Siberian Gas Company, a regional gasification operator.

Dissention lasts for two years now after a purchase agreement was inked in 2007, Gazprom says. According to the gas holding, the deal’s value can’t be more than $500-600m whereas TNK-BP reportedly wants $800-900m.

The Kovykta gas-condensate field is one of Russia’s largest. Its explored C1+C2 reserves amount to 2 trillion cu. m of gas.
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Tags: TNK BP (71) / Gazprom (359) / Rusia Petroleum (2) / Kovykta gas field (0) /

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