RusEnergy

24.05.2005 IntelliNews Today - BoD of TNK-BP approved capital investment of USD 136mn in Kovykta gas field. The amount will be used to construct gas pipeline from Kovykta field to Zhigalogo village.Such investment is demanded by the current Kovykta license terms. The pipeline will be used to supply customers in Zagorodsk town in Irkutsk Region as early as 2006. The total cost of the building pipeline network in the region was estimated at USD 1.1bn. Most of the investment will be made between 2005 and 2008.The first gas supplies are scheduled for 2006. It is believed that by 2010 the supplies of gas from the field will amount to 2.8bn cubic meters a year. This is the first stage of Kovykta project and it involves provision of gas to Irkutskaya Oblast. After this decision BoD will review the possibility of gas supplies to Chita and Buryatiya regions. It seems like such decision of TNK-BP was influenced by assurances given to the head of BP by Russian president during their meeting.