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Gazprom, TNK-BP could sign deal on Kovykta gas field soon

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Gazprom may soon sign an agreement with TNK-BP on buying the license to the Kovykta gas condensate field in East Siberia from the Russian-British oil company, the Russian energy giant's CEO said on Friday.
ORENBURG, September 26 (RIA Novosti) - Gazprom may soon sign an agreement with TNK-BP on buying the license to the Kovykta gas condensate field in East Siberia from the Russian-British oil company, the Russian energy giant's CEO said on Friday.

"An agreement could be reached between Gazprom and TNK-BP on Kovykta in the near future, within the next few weeks...We cannot postpone final agreements further than this given that problems with regulators and the license have not been yet resolved," Alexei Miller said.

He said that the size of the deal would be between $700 million and $800 million.

The deal is part of an agreement signed between Gazprom, Britain's BP, and Russian-British TNK-BP in June 2007.

Under last year's agreement, Gazprom is to buy a 62.8% stake in TNK-BP subsidiary Rusia Petroleum, the operator of East Siberia's largest gas deposit. The deposit's reserves are estimated at 2 trillion cubic meters of natural gas, 2.3 billion cubic meters of helium and 115 million metric tons of gas condensate.

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