Mid-sized Russian oil company Bashneft got the licence to explore Trebs and Titov oil deposits in Nenets Autonomous Okrug in November last year. Since then, the company has been in negotiations with LUKoil on possible joint exploration of the fields.
LUKoil, Russia’s largest private oil company is already actively involved in several projects on the tundra in Nenets.
Head of the Bashneft board of directors, Aleksandr Goncharuk, says to Kommersant that the talks with LUKoil are close to completion.
- A final decision on partnership will be made later this week, Goncharuk tells Kommersant.
The Trebs and Titov deposits are located onshore northeast of Narjan-Mar. The two fields are said to have total oil reserves of 140 million tons and by that are the largest untapped fields in the European part of Russia.
