The giant gas field must be developed together with other deposits in East Siberia and the Russian Far East, stressed Mr. Miller, as quoted in his company's press release.
"A comprehensive approach to the opening up of the area's vast mineral resources will help to appoint the best possible development pace and techniques. In that, we are to proceed from current and prospective Russian domestic market demands, progress of a united gas-piping network in the country's east, and the chances to export gas to Asian and Pacific countries via one channel," he said.
The Kovykta deposit is in the Irkutsk Region, East Siberia's south, 450 kilometers northeast of Irkutsk, regional center. It is estimated at 1.9 trillion cubic meters of natural gas, as against 3.11 trillion, the amount of prospected Iraqi gas deposits.
RUSIA Petroleum Co. has licensed Kovykta development. TNK-BP is its biggest holder-62.42% block. Next come the Interros holding, with 25.82%, and the Irkutsk regional government property management committee, 11.24%.
