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Sunday, 20 July, 2008, 22:40 GMT | more prices >>

Gazprom Neft spends big to cut flaring



By Upstream staff 

Photo by Roozbeh Feiz / http://www.flickr.com/photos/rfeiz


Russian giant Gazprom's oil arm, Gazprom Neft , is planning to spend 17.6 billion roubles ($714.6 million) over the next three years in a bid to slash gas flaring, it said.

The company said in a statement it aimed to cut gas flaring to 5% of output by 2011, partly by building new gas processing and power generating facilities.

The company will start spending the cash this year, it added.


Monday, 18 February, 2008, 07:29 GMT  | last updated: Monday, 18 February, 2008, 07:29 GMT

Dousing the flames: Gazprom Neft is the latest producer to make moves towards slashing gas flaring
 

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