Gazprom where it is constructing Europe's tallest building for its new headquarters. Gazprom is the world`s largest oil producer, with producing oil through the largest natural gas field in the world, the Shtokman field. Gazprom was created in 1989 when the Soviet Ministry of Gas Industry was converted to a corporation, retaining its Russia-based assets. Gazprom is involved in the Russian Government's diplomatic efforts, setting of gas prices, and access to pipelines. Gazprom's production fields are located around the Gulf of Ob in Western Siberia. Plans have also been made to mine the Yamal Peninsula. Gazprom's gas transport system includes 158,200
Kovykta field 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. The reserves of Kovykta amount to 2 trillion cubic meters of natural gas and more than 83 million tons of gas condensate. The period of active gas production in the Kovykta field is expected to be 30 years, and the period of field development about 50 years. The field was developed by Rusia Petroleum, 62.9% of which is owned by TNK-BP. 24.99% is owned by the power generating company OGK-3. The Kovykta field is considered