Company news in August 2004

Investment Feasibility Study for the Project to Gasify the Irkutsk Region on the Basis of the Kovykta Field Finalized

August 02, 2004, Monday

East Siberian Gas Company (ESGC) OJSC is going to draft a feasibility study of the project to gasify the Irkutsk Region on the basis of the Kovykta gas and condensate field and to agree it upon with governmental authorities, informed Mr. Alexey Sobol, General Manager of ESGC. In his words, so far the project''s investment feasibility study has been finalized; professionals from ESGC OJSC stay in Donetsk where they receive documents from a developer, YuzhNIIgiprogas design institute. Mr. Sobol noted that, by Monday, the documents will be delivered to Irkutsk, and the company will get down to their studying them, which will take 1-1,5 months. After than, preparation of the draft project, drawing up of documents and engineering research will start. Also, ESGC may get down to signing of preliminary gas supply agreements with consumers as the gas price will have been determined.

Source: Sibirskiye Novosti RIA

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