Gazprom and TNK-BP in debate over Kovykta deal | Far East, Materials, extraction

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 Gazpromís prospective purchase from TNK-BP of 62.8% of Rusia Petroleum, Kovyktaís 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 dealís value canít be more than $500-600m whereas TNK-BP reportedly wants $800-900m.

The Kovykta gas-condensate field is one of Russiaís largest. Its explored C1+C2 reserves amount to 2 trillion cu. m of gas.