Oil and Gas News - Energy Watch - May 30

ONGC and Gazprom have agreed to expand cooperation in the oil and gas industry as well as the power sector, according to the Press Trust of India. Gazprom invited ONGC to participate in eight projects in Russia, including oil and gas projects in Eastern Siberia and the Far East, the statement said, but did not give any further details. Industry specialists are working on a single conceptual framework to develop the Achimov oil and gas field in the Urengoi oil and gas area, located in the Yamal Peninsula. The largest oil and gas companies — such as Gazprom, YUKOS and TNK-BP — have expressed interest in the project, Itar-Tass reported. The aggregate oil and gas reserves of the Achimov oil and gas field amount to 3. Eduard briefed the minister about Gazprom-Zarubezhneftegaz worldwide activities in the oil and gas sector and expressed keenness to participate in the oil and gas exploration, setting up gas storage and LNG projects, besides taking part in the privatization of public sector oil and gas entities. read more

[Tags]gas, oil, gazprom, achimov, ongc, projects, oil and gas news[/Tags]

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