The Court to study again the license for Trebs and Titov

The minority shareholder of Bashneft, R. Inozemtseva, has signed a claim against the company and Rosnedra demanding to re-issue the license for the Trebs and Titov deposits, a source familiar with the text of the claim said. Now the license is issued for Bashneft-polyus – a JV with Lukoil (its stake 25.1%) but not for Bashneft, RBC daily writes.

The claim was registered at the Moscow Arbitration Court on July 4th. The hearing is appointed on August 4th. Another minority shareholder, S. Proskuryakova, made a similar claim in March 2012. She managed to get the license re-issued for the head company – Bashneft. It took the company about 2 years to return the license for the JV. However, it was not an obstacle to start the production at these deposits in October 2013.

The tender for the right to develop the Trebs and Titov oil deposits in the Nenets Autonomous Area with the total reserves of 140 mln tons of oil was held by Rosnedra in late 2010. All large oil companies of Russia contended for the site, expect Rosneft, as well as ONGC (India). But Rosnedra accepted the application for participation in the tender only from Bashneft. The tender was proved void but the Government granted the license to the only candidate.

Bashneft cooperates with Lukoil at the new deposits. The latter has all the necessary infrastructure in the Nenets Autonomous Area. The company transferred the license to its 100% affiliate – Bashneft-polyus, 25.1% in which was sold to Lukoil.

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