Today at the Gazprom Headquarters Alexander Ananenkov, Acting Chairman of the Gazprom Management Committee and Leonid Dyachenko, President of Urals Energy signed a Memorandum for cooperation on the Irkutsk Oblast gasification within the General Gas Supply and Regional Gasification Scheme developed by Gazprom and approved by the Irkutsk Oblast Administration.

Pursuant to the Memorandum, Urals Energy will ensure preparation and commercial operation of the Dulisminskoye oil and gas condensate field during the 2008-2009 period in the Irkutsk Oblast. Urals Energy or its affiliated companies and dependant organizations will sell Dulisminskoye’s natural gas to Gazprom.

The parties will examine an opportunity to jointly participate in financing the regional gas main infrastructure construction developed in accordance with the General Gas Supply and Regional Gasification Scheme. Gazprom will be acting as the owner of gas transmission capacities under construction in pursuance with the Gas Supply Law.

The document foresees the cooperation issues in the deep processing and Dulisminskoye’s gas usage sector including an opportunity to set up gas processing (gas chemical) and energy generating companies.

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In December 2005 Gazprom and the Irkutsk Oblast authorities signed the Agreement of gasification.

At the same time the Irkutsk Oblast Administration approved a General Gas Supply and Regional Gasification Scheme. The General Scheme stipulates a comprehensive development of the regional gas production, transmission and supply system using local hydrocarbon resources.

Dulisma Oil Company (a wholly owned subsidiary of Urals Energy) holds a license for the right to use Dulisminskoye oil and gas condensate resources.

Gazprom provides exploration and geological works in Western and Eastern parts of the Yuzhno-Kovyktinskaya area in the Irkutsk Oblast.

In September 2006 Gazprom and ITERA, in the framework of the General Scheme implementation for gas supply and gasification of Irkutsk Oblast, signed the Memorandum for cooperation on issues of the Bratsk gas condensate field in the Irkutsk Oblast.

In November 2006 Gazprom and the Irkutsk Oil Company signed the Memorandum for cooperation on issues on gas of the Markovskoye oil & gas condensate and Ayanskoye gas fields in the Irkutsk Oblast.