OREANDA-NEWS. June 05, 2009. Gazprom Management Committee took notice of the 2002-2008 main results of execution of the Program for Gazprom mineral resource base development until 2030.

The Management Committee outlined the prioritized areas of the Company’s exploration activities and main approaches to the Exploration Program for 2009-2012.

Background:

The Program for the gas industry’s mineral resource base development until 2030 was worked out and approved by the Gazprom Management Committee in 2002. The Program defines the main directions of exploration work and the license policy of Gazprom.

While implementing the Program during 2002-2008, 23 new fields and 47 oil and gas deposits were discovered in Russia.

Starting from 2005 the Company has been steadily building up the annual increase in hydrocarbon reserves due to a large scope of exploration work overbalancing the annual production level.

In 2008 exploration work assured an aggregate increase in Gazprom Group hydrocarbon reserves equal to 644.4 million tons of oil equivalent including 583.4 billion cubic meters of gas, 6.9 million tons of gas condensate and 54.1 million tons of oil. The replenishment rate of gas reserves reached 1.06.