17:40 GMT +322 January 2018
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    Gazprom, Sovkomflot reach agreement on oil transportation

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    MOSCOW, October 12 (RIA Novosti) - The Russian natural gas monopoly Gazprom, the country's largest tanker company Sovkomflot, and the Sevmorneftegaz oil and gas company have signed a cooperation agreement on oil transportation by sea from an oil field on Russia's Arctic shelf, the Sovkomflot press service said Wednesday.

    "Sovkomflot will provide an integrated transport scheme, including shuttle tankers, a floating oil reservoir, and large-tonnage tankers to deliver oil to final consumers in Europe and the United States," the company press service said.

    Sovkomflot said that an integrated transport scheme managed by a single operator would create optimal conditions for safe and uninterrupted transportation from the oil field.

    Sevmorneftegaz, a 100% Gazprom subsidiary, is developing the Prirazlomnoye oil field on the Arctic shelf, on production sharing terms. Oil output is expected to reach 6.5 million metric tons per year. Oil shipments will begin in late 2007 and early 2008.

    Sovkomflot has placed an order with Russian state-owned shipyard Admiralteiskiye Verfi to build two ice-breaker oil tankers. The domestic shipbuilders will be making these tankers for the first time. Sevmorneftegaz also holds a license to develop the Shtockman gas field, expected to produce 22 billion cubic meters of gas annually after it is commissioned, which will be not later than 2010.

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