| 2012-01-29 |
Published: Magazinå "ÒSR", Ekaterinburg |
This year, ITERA International Group of Companies (ITERA Group) is 20. Within this period time, it has become a major independent producer and seller of natural gas in Russia, and today, it is about to start a new development stage.
ITERA can be easily called a pioneer among private companies of the Russian oil and gas sector. In 1992, it was established by Igor MAKAROV who has been ITERA Group ultimate beneficial owner since then. ITERA started gas marketing in 1994, and it has been developing its own gas production in YaNAO since 1998.
As of today, in aggregate, about 250 billion cubic meters of natural gas have been produced in ITERA Group gas fields. ITERA has about 150 representative offices, branches and subsidiaries in Russia, the CIS, Baltic States, Europe and the United States. Also, it holds interests in gas companies LatvijasGaze (Latvia) and EestiGaas (Estonia).
The Group has a special entity, ITERA Oil and Gas Company, to develop its top priority gas projects. ITERA Oil and Gas Company are focused on enhancing the core business resource base not only in YaNAO: it intends to participate in auctions and tenders of the Federal Agency for Subsoil Usage for development of license areas and acquisition of gas assets in the secondary market in other Russian regions. The Company has been in discussions with Gazprom on joint development of small and medium-size fields owned by the State Concern not to be developed on a first-priority basis.
ITERA’s key assets for today are 49% interests in Purgaz (a joint venture with Gazprom) and Sibneftegaz (a joint venture with NOVATEK). Purgaz has already reached the peak of production – 15 billion cubic meters of gas per year – and will keep it on in the coming years. Sibneftegaz is engaged in development of four fields: Beregovoe, Pyreinoe, Khadyryakhinskoe and Zapadno-Zapolyarnoe.
10.4 billion cubic meters of gas, approximately the previous year production level, were produced within the project in 2011, including over nine billion cubic meters of gas produced at Beregovoe field, and the remaining volume – at Pyreinoe field. Both fields are at the stage of active development. Tentatively, Beregovoe field peak production rate will be 10 billion cubic meters of gas per year within 10-15 years. The time required to reach the peak production rate depends on gas demand.
Cenomanian deposit construction at Pyreinoe field would be completed in the near future. The lower horizon development procedure will be determined on the basis of obtained data. Smaller reservoirs development at Pyreinoe field constitutes the tomorrow of Yamal gas production, they will be the base upon depletion of large continental deposits. A well drilling and pilot operation schedule at Khadyryakhinskoe field will be determined shortly. Zapadno-Zapolyarnoe field reserves are likely to be evaluated in 2012.
One of ITERA’s most promising oil and gas project is Block 21 of the Turkmen Sector of the Caspian Sea. The first field’s exploration well would be drilled this year. It will be 7 300 meters deep which is a record for Turkmenistan. Experts believe hydrocarbon production on Block 21 can be started in 2018-2019 provided that exploration results are positive. According to preliminary assessment, the field’s recoverable reserves of oil are 219 million tons, that of associated gas are 92 billion cubic meters, and that of natural gas 100 billion cubic meters. Investments into the Project may amount up to US$ 6 billion.
ITERA’s key gas distribution market is Sverdlovsk region where the Company is the major gas supplier. ITERA’s aggregate gas sales in 2011 amounted to over 22 billion cubic meters, and the largest share of the gas volume was supplied to the Region.
- Today, the Company considers engaging a strategic partner to accelerate ITERA’s development in the gas sector - said Igor Makarov, the Chairman of ITERA Group Board of Directors. - In the anniversary, the Company intends to perform all its gas supply obligations, to continue delivering projects in power generation, gas chemistry and in the development sector.
ITERA Group’s core operations are gas production and distribution, gas chemistry, power generation, and development.
Top of page
