Russian oil producer OAO
Gazprom Neft (SIBN.RS) said Monday it has approved a mid-term associated gas
utilization program until 2010.
By 2010, Gazprom Neft will spend 17.6 billion rubles ($715 million) on the
program, it said in a statement. The firm will allocate RUB12.0 billion to
building gas processing plants and necessary infrastructure, and spend RUB5.0
billion on development of its own electricity generation capacities.
In June, Natural Resources Minister Yuri Trutnev asked major oil producers to
bring the share of associated gas usage and processing to at least 95% by 2011.