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
Gazprom Jorma Ollila, Chairman of the Board of Directors of Royal Dutch Shell signed in the presence of Putin and Mark Rutte prime minister of Netherlands a memorandum outlining the principles of cooperation within hydrocarbons exploration and development in the Arctic shelf and a section of the deep-water shelf. In 2008, Gazprom carried out of explorative well drilling; of 2D seismic and of 3D seismic survey. As a result, gas reserves grew by , and crude oil and gas condensate reserves grew by 61 million tons. Gazprom carries out prospecting and exploration in foreign countries such as India, Algeria, Venezuela, Vietnam,