BP acquires 49% in the giant Kharampurskoye development

BP is leveraging its long-term relationship with Rosneft and is getting access to a major gas field in West Siberia adding about 760 mmcfd of gas production to its portfolio in 2028 - in line with its strategy of increasing exposure to gas projects. The Kharampurskoye field lies in the Yamal-Nenets region of West Siberia, which is the core of Russia's hydrocarbon production capacity with a vastly developed domestic and export infrastructure. The field's oil production has been in decline since end-1990s, and the operator's focus has shifted to its large gas potential. The first phase of gas production will come from the Cenomanian layer in 2019-2020, while the second stage envisages gas production from the low permeability, shallow Turonian horizon, where commercial production is expected to start in 2025.