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Tuesday, December 09, 2008

Oil company Rusia Petroleum under pressure over Kovytka gas field

ST. PETERSBURG, December 9 (RIA Novosti) - Russia's environmental regulator accused oil company Rusia Petroleum on Tuesday of breaching the terms of its license to the Kovytka gas condensate field in Siberia's Irkutsk Region. "According to the license agreement, nine billion cubic meters of natural gas should have been delivered to the Irkutsk Region," the head of environmental regulator Rosprirodnadzor, Vladimir Kirillov, told an international environmental conference in St. Petersburg. "We have sent the license documents to (licensing agency) Rosnedra," he said. In the summer of 2007, Rosnedra considered revoking the company's the license for the Kovykta field due to the field's late launch and insufficient production level. According to the license, Rusia Petroleum was to supply at least nine billion cubic meters of gas to meet the needs of the surrounding region. RUSIA Petroleum is owned by TNK-BP with 62.8%, the Irkutsk regional administration with 10.78%, and power generator OGK-3 (RTS: OGKC) with 25% minus one share.

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