Russia's Shto Kmanovskoye field goes ahead

Nov 21, 2001 01:00 AM

Russia's giant Shto Kmanovskoye gas and condensate field in the Barents Sea will be developed with massive subsea facilities as part of a $ 10 bn scheme to supply large quantities of gas to European markets by 2010. Plans are under consideration for a phased development of the Shto Kmanovskoye field as a full-scale subsea project, with gas piped to shore and over a distance of 600 km (372.8 miles) to the Baltic Sea and into the European markets via the Nordic Gas Grid.
The first phase of the project will cost $ 10 bn to build and gas is scheduled to flow by 2010. Later phases are estimated to cost another $ 9 bn in total.

Shto Kmanovskoye is claimed to have gas reserves of 13 tcf and at full production it could yield a staggering 9,400 mm cfpd. Operator Gazprom indicates that between 30 % and 40 % of production would be exported to Western Europe, while the rest would be for domestic consumption. Four western oil companies have been invited to participate in the project under a Production Sharing Agreement (PSA) though a distribution of project shares between the players has not been finalised.
Norsk Hydro is believed to be taking a prominent position in the project and is intended to act as technical advisor and technology provider. The primary obstacle to the project, however, is Russian bureaucracy, which could slow down project progress, including formalisation of PSAs under the FSU political system.

Source: Hart's European offshore petroleum Newsl/PBI Media
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