The Kovykta gas condensate field is one of the largest undeveloped natural gas fields in Eastern Siberia, Russia. The field is located in the northern part of the Irkutsk Oblast, in the Zhigalovo and Kazachinsko-Lensk districts.
History
The field was discovered in 1987. In June 2007, TNK-BP agreed to sell its stake for US$ 700 million to US$ 900 million to Gazprom with option to buy back a 25% plus one share stake in the project.[1][2] However, this deal never materialized. In June 2010, Rusia Petroleum, the developer of Kovykta field filed for bankruptcy.[3] TNK-BP also tried to sell the field to state-owned Rosneftegaz, but failed. On 1 March 2011, Gazprom bought Rusia Petroleum's assets, including rights for the Kovykta field, for $711 million.