OREANDA-NEWS. November 30. On 28 May OGED accepted the high-flow-rate well № 225 for operation. It was drilled by Bayil Limani Offshore Exploration Drilling Unit from the platform № 14. The daily production of the well is 120 tons of oil and 40 thousand cubic meters of natural gas at a depth of 2545 meters. The platform № 14 is the biggest and the most efficient well at Gunashli field. It was accepted for operation in 1988, and was initially projected to drill 24 wells. An additional 12-well block was assembled to the platform four years ago. During last 20 years 32 high-flow-rate wells were drilled from the platform which produce 2 200 tons of oil and condensate, 4 million cubic meters of gas per day. The well № 225 is the eleventh one in number which has been accepted for operation at Gunashli field since the beginning of the year. There will be one more well at the platform № 15 to be accepted for operation in December.OREANDA-NEWS. November 29, 2007.  The Gazprom Headquarters has hosted a regular working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Tony Hayward, Chief Executive Officer of BP Group.

The parties discussed issues related to cooperation of Gazprom and BP Group within the Agreements earlier signed as well as to new cooperation opportunities in international energy markets.

Reference:

June 22, 2007 Agreement contemplates establishing a strategic alliance between the companies for long-term investment in joint energy projects as well as asset swaps both in Russia and third countries.

Pursuant to the Agreement, TNK-BP will sell Gazprom a 62.8 per cent stake in Rusia Petroleum, which is the license holder for the Kovykta field, as well as a 50 per cent stake in East Siberian Gas Company, which is implementing a regional gasification project for the Irkutsk Oblast.

The Agreement also stipulates a call-option for TNK-BP to buy back a 25 per cent plus one share stake in the Kovykta project. The option could be exercised after the parties to the Agreement have agreed on a project to be executed within the alliance, or have approved an asset swap.