OREANDA-NEWS. July 7, 2011. The Federal Subsurface Management Agency (Rosnedra) prolonged a license to LLC  Yupiter-A, an affiliate of ITERA Oil and Gas Company for the right to use subsoil for the purpose of producing oil and associated gas at Tverdilovskoye oil field through December 31, 2037. Appropriate amendments were entered in and registered for the license.

Jupiter-A owns the license to develop Tverdilovskoye field located in Orenburg Oblast. The field's recoverable resources are estimated at 4470 thousand tons of oil and 580 million cu m of associated gas. 100 per cent share in Jupiter-A is held by ITERA Oil and Gas Company.

ITERA Oil and Gas Company is one of the larger independent producers and sellers of natural gas in the Russian Federation. It has been developing its own production of natural gas in the Yamalo-Nenets Autonomous District since 1998. The Company has invested over USD  2 billion in development of the gas production industry. ITERA was the first private company to commission gas fields in the North of Russia. The total of over 235 billion cu m of natural gas has been produced in the fields developed by ITERA.