Gazprom, Wintershall expand cooperation

Offshore staff

ST. PETERSBURG, Russia -- Gazprom and Wintershall have signed a memorandum concerning possible joint development of gas reserves in northern Russia.

The agreement concerns the Achimov deposits of the onshore Urengoy field, 3,500 km (2,175 mi.) northeast of Moscow, which could head to Western Europe via the new Nord Stream pipeline in the Baltic Sea.

ZAO Achimgaz, a jointly owned subsidiary of the two companies, aims to produce up to 200 bcm (7 tcf) of gas from block 1A of the Achimov horizon.

In exchange, Gazprom would receive equivalent stakes in Wintershall’s exploration and production projects in the North Sea.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...