Russian Financial Control Monitor

MOSCOW. The Russian government has drafted a protocol for an agreement with Kazakhstan on joint exploration and development of the cross-border Imashevskoye gas condensate project after Prime Minister Dmitry Medvedev issued a directive to this account. The Natural Resources Ministry was instructed to hold talks with Kazakhstan and to sign the protocol. The field is located 60 kilometres northeast of Astrakhan in Russia and 250 kilometres southwest of Atyrau in Kazakhstan. It contains over 128.7 bcm (4.54 tcf) of explored gas reserves and 20.7mn metric tons of gas condensate.

CHEREPOVETS. Severstal’s Russian Steel division, which includes companies located in five countries, said it invested around RUR8bn (approximately $240mn, or €182.3mn) in business in the first half of 2013, or 41% of the yearend capex. This is slightly less than it invested in January-June 2012. This year the steel division’s investment programme is aimed at creating new products, at increasing output and at maintaining its fixed assets. In particular, it has implemented such large projects as the renovation of Coke Oven Battery No. 7, replacement of Electric Generator Turbine No. 4, and construction of the external infrastructure of Air Separation Plant No. 12 at the Cherepovets Plant, the company’s press office reported.

2023-10-08 11:42:18