Sistema Holding reports arrest of its stakes in MTS, Medsi as part of dispute with RosneftBusiness & Economy June 26, 20:58
Russian submarine successfully test-fires Bulava intercontinental missileMilitary & Defense June 26, 19:20
Rosneft and RBC reach friendly settlement on defamation lawsuitBusiness & Economy June 26, 18:50
Number of centers issuing FAN IDs to be increased ahead of FIFA Confederations Cup FinalSport June 26, 18:33
News about anti-doping probe against Russian football team players is fake — executiveSport June 26, 18:25
Putin refers to State Duma Council of Europe convention against financing terrorismRussian Politics & Diplomacy June 26, 18:15
Russia to lay down 2 diesel-electric submarines for Pacific Fleet in JulyMilitary & Defense June 26, 18:07
Russia’s Khramtsov wins first gold at 2017 World Taekwondo ChampionshipsSport June 26, 18:03
Russian Navy to get four frigates by 2020Military & Defense June 26, 17:41
MOSCOW, January 23. /ITAR-TASS/. Achimgaz, a joint venture by Russian gas giant Gazprom and Germany's Wintershall, increased net profit 2.3 times year-on-year over the nine months of 2013 to 5.625 billion rubles, about $170.5 million, says a Gazprom report based on international financial reporting standards. Revenue was 8.392 billion rubles ($254 million).
The venture was set up on a parity basis in July 2003 for exploitation of the first test site of a Siberian gas field’s Achimov deposits. Achimov deposits lie at the great depth of about 4,000 metres, with abnormally high reservoir pressure and heavy paraffin which considerably complicates their development and exploitation.
Geological prospecting confirmed the deposits’ efficiency on a vast territory of Nadym-Pur-Tazovsky in Western Siberia. Main recoverable hydrocarbon reserves of such deposits are concentrated in the Urengoy oil and gas condensate field.
Under the asset exchange deal between the two companies, Wintershall will receive a 25.01% stake in a project for exploitation of Achimov deposit areas 4A and 5A.