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Gazprom gains access to new giant field

Russian Gazprom has been awarded the license to a new giant oil and gas field in the Barents Sea, covering an area of 83,500 square kilometers.

Photo: Gazprom

State-controlled Russian oil company Gazprom has been awarded access to the giant Kheysovsky oil and gas field in the Barents Sea, according to a decree published by the Russian government on its website.

The Kheysovsky field covers an area of 83,500 square kilometers and is estimated to hold more than two trillion cubic meters of gas, 394 million tons of oil and 32 million tons of condensate. Gazprom will pay USD 29.38 million for the license, according to a government statement.

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