The FINANCIAL — The Gazprom Management Committee took notice of the information about the preliminary results of the Investment Program in 2011 as well as in the first quarter of 2012.
According to Gazprom, the Company's specialized structural units were tasked to carry on with the Investment Program in 2012.
The Management Committee noted that in 2011 Gazprom had attained the prime targets for the reserves replenishment as well as the reliable operation of gas production, transmission and underground storage facilities . The top-priority projects went on successfully.The meeting participants stressed that the 2012 Gazprom Investment Program was progressing according to schedule.
In particular, preparation to launch gas production from the Bovanenkovo field is nearing completion. Pre-commissioning of the first startup complex at the Bovanenkovo field has been completed, comprehensive testing of the process equipment and systems is going on. Construction of the first string within the Bovanenkovo – Ukhta gas trunkline system (GTS) is ending in a synchronized manner. Thus, gas production from the field is expected to start in June 2012.
A comprehensive gas treatment unit, CGTU-1V, is being built as planned during the development of the Valanginian deposits in the Zapolyarnoye field. CGTU-1V will be put onstream in 2012. Together with CGTU-2V built in 2010, it will increase gas and condensate production from the Valanginian deposits in the Zapolyarnoye field from nearly 6.5 to some 15 billion cubic meters and from 1.3 to 3.2 million tons, accordingly.
Construction of gas transmission facilities in 2012 will enable Gazprom to timely meet the major targets on gas transmission from the Yamal Peninsula as well as domestic and export gas supplies.
In particular, Gazprom has currently completed 90 per cent of the looping systems at the Gryazovets – Vyborg gas pipeline, therefore, construction of the facilities required for gas conveyance to the Nord Stream' second string will be completed in time.