Russ Oil-Gas

01-18-2007 Regnum News - Gazprom’s investment program envisages $644 mln for development of the Shtokman field planned to be started in 2007. As BarentsObserver informs, Gazprom adopted its investment program on January 15. It allows stating that Gazprom confirmed its intention to start developing the Shtokman field in accelerate? pace. General amount of investments is 529.38 bln rubles (about $20 bln), which is higher than the sum of 459 bln rubles last year. 11.13 bln rubles are envisaged for development of Prirazlomnoye field in the Pechora Sea. Prirazlomnoye is to become the first developed oil field on Russia’s northern shelf. The shelf is to be placed in operation in 2008. The Shtokman field with capacity of 3.6 trillion of cubic meters of gas struck in late 1980s is one of the largest shelf deposits of gas in the world. It is located 600 km north from Murmansk on the depth of 350 m beneath the sea bed in the area with severe climate and is considered to one of Russia’s treasures in the Barents Sea.