Russ Oil-Gas

12 April 2007 - Upstream OnLine - Gazprom, the world's largest gas supplier, plans to start production next week at one of Russia's largest Siberian gas fields, an industry source said today. Gazprom plans to produce 11-12 billion cubic metres of gas a year at the west Siberian Beregovoye field, which has reserves of 320 billion cubic metres of gas, enough to supply Britain for more than three years. Gazprom's banking arm Gazprombank last year bought a 51% share in the field, located close to Gazprom's production base, from smaller rival Itera for $130 million. Itera, which still owns 28% share in the deposit, has been developing the field since 2003, but was unable to start commercial production as it failed to reach agreement with Gazprom on access to the pipeline system. "The Beregovoye gas was let into the trunk pipeline system in the beginning of April and commercial production at the field will start next week," the source said.