Total brings Termokarstovoye gas field in Russia on line

20th May 2015, Comments 0 comments

French energy company Total said Wednesday it had launched production at the Termokarstovoye gas field in northern Siberia together with its Russian parter Novatek.

Total said the field will produce around 6.6 million cubic metres of gas and 20,000 barrels of condensate per day, with a combined production capacity of 65,000 barrels of oil equivalent per day.

"We are delighted with the start up of Termokarstovoye, the first project executed together with our strategic partner in Russia Novatek," Total's senior vice president for exploration and production in Europe and Central Asia Michael Borrell said in a statement.

Total and Novatek are working together with China's CNPC in the same area to develop the $27 billion Yamal field eventually meant be one of the world's biggest liquefied natural gas (LNG) projects and ship deliveries to both Asia and Europe.

Borrell said Termokarstovoye was Total's fourth project to go on line this year and would contribute to the company's production growth this year.

Total has in recent years focused on raising output, in particular through operations in Russia, which should become its top production source by 2020.

The Yamal project has gone forward despite US and European sanctions against Russia over its role in the Ukraine crisis making it more difficult to raise financing.

© 2015 AFP

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