The company will allocate about 650 million dollars on Shtokman gas condensate field development, which will start in 2007. Prirazlomnoe field development will cost the company about 420 million dollars in 2007.

Prirazlomnoe oil field can become the first developed oil field on Russia’s Arctic Shelf, B-port.com reports. The field is planned to be put in operation in 2008.

Gazprom plans to allocate about one billion dollars on gas transport system extension in the north-west of Russia and for gas supply via Nord Stream gas pipeline.