Gazprom 1980s, the Ministry of Gas Industry found large natural gas reserves in Siberia, the Ural region and the Volga region. The Soviet Union became a major gas producer. In August 1989, under the leadership of Viktor Chernomyrdin, the Ministry of Gas Industry was renamed the "State Gas Concern Gazprom", and became the Soviet Union's first state run corporate enterprise. In late 1991, when the Soviet Union dissolved, gas industry assets were transferred to newly established national companies, such as Ukrgazprom and Turkmengazprom. Gazprom kept assets located in Russia and secured a monopoly in the gas sector. In December 1992, when
Gazprom the world's reserves. In 2015, the reserves of crude oil were 1.355 billion tons and the reserves of gas condensate were 933.3 billion tons. 59.8 percent of Gazprom's natural gas reserves (Categories A+B+C1) were located in the Urals Federal District (decreasing), 20.5 percent in the Arctic shelf (increasing), and 8.3 percent in the Southern Federal District and North Caucasus Federal District. Gazprom has invested about 480 billion rubles ($20 billion) in new major projects in order to maintain supply. Nearly 37 percent of Gazprom's reserves are located in the Yamal Peninsula and in the Barents Sea. One of Gazprom's major