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Russia Gazprom Neft adds 334 mln T of oil reserves

Russia Gazprom Neft adds 334 mln T of oil reserves

Write: Catalina [2011-05-20]
MOSCOW, Dec 24 - Gazprom Neft, the oil arm of Russian gas giant Gazprom (GAZP.MM), has recieved rights to develop two oil fields holding a combined total of 334 million tonnes, Gazprom said on Thursday.

Russian gas transport monopoly said the decision was part of consolidating the company's oil assets and was aimed to increase its effeciency in the oil business.

Gazprom Neft, Russia's fifth largest oil producer, has received the Novoportovskoye field with some 238 million tonnes and Orenburgskoye with around 96 million tonnes, Gazprom's press release said.