VOG 2005 New Thread

thanks for that that is very interesting thread indeed, some great calculations to be discussed in the weeks to follow..

the following represents Gazproms major project report on Zapolyarnoye gas field, by gas reserves, is ranked as the global fifth largest gas field.

Total gas reserves amount to more than 3.3 tcm.

The upper Senomanian deposit is about 2.6 tcm of gas.

Valanzhinsk formations have about 735 bcm of gas.

History


In December 2002, a 32.5 bcm capacity of gas per year gas complex treatment unit UKPG 2C was launched into operation at Zapolyarnoye.

On the 19th of december, the 3rd gas complex treatment unit (UKPG – 3S) was launched at the Senoman reservoir of the Zapolyarnoye oil and gas condensate field. At present, the UKPG–3S serves 24 wells producing 20 million cubic meters of natural gas per day. By the yearend, the UKPG–3S is expected to provide production of up to 200 million cubic meters of gas. In the first quarter of 2004, daily gas production will attain some 60 million cubic meters.

The UKPG–3S will reach its annual design capacity of 32.5 bcm in the third quarter of 2004.

By the beginning of 2005, three units will allow to increase gas production from the Zapolyarnoye field up to 100 bcm per year.

In 2008 presumably, two more UKPG units will be commissioned to back-up gas production from Valanzhinsk formations. Their total annual capacity will amount to 24.1 bcm of gas.

It is planned that about 3 mln t of gas condensate and 861 th t of oil will be produced at Zapolyarnoye annually.


VOG has anything between 0.5 trillion - 2.5 Trillion, on West Med alone.

Consider this fact in the FT today - Europe consumed 535bn Cu meters of gas in 2004 according to the IEA.

Vog has potentially upto 0.5trillion - 2.5 trillion, if the higher estimate is found to be the closer estimate, then my guess is Victoria Oil will be bought out, or just go on to become a giant, in the gas industry, via acquisions.

TAKEN FROM FT :
Who are the main recipiants of Gas via the Ukraine :

IN 2003 RUSSIA EXPORTED 132BN CU M F GAS:

Russia supplies 25% of gas to Europe alone:
33bn CU M to Germany (38% OF domestic)
20bn to italy
10bn to France
13bn to turkey
Austria is wholly dependant on russian gas.


$110 (£55) PRICE per 1000 cubic meter SUPPLIED:
NEW EUROPEAN MEMBERS:
Latvia
Estonia
Lithuania
belarus - cheapest at over $46

By 2010 - The new pipeline will be complete to supply gas to the UK, scandinavia from under the baltic sea.

A further project : The SHELL led Sakhalin-2 PROJECT is also expected to be part of Gazproms strategy -oN COMPLETION FOR 2008, To supply liquified gas to Asian Markets not connected by pipeline.

Read Page 5 yesterdays - Financial times for further info.

hopefully not bring the ahem..out of anybody with above..

Mags2..