LUKOIL and Bashneft created JV for geological exploration and development of licensed sites in the Nenets Autonomous Area
Edited by vadim / 2014-05-16 05:56:45
OJSC “LUKOIL” and OJSC “Bashneft” have signed an agreement on participation in the “Oil company VOSTOK NAO” LLC.
The JV “VOSTOK NAO” (LUKOIL and Bashneft – 50% each) has been created for geological exploration, prospecting and hydrocarbon production within the boundaries of the licensed site of the companies in the Nenets Autonomous Area.
Under the agreement of participants “Bashneft” transfers right to use subsurface sites Vostochno-Padimeisky, Nyarioyakhsky, Savatinsky, Sabriyaginsky and Yangareisky, while LUKOIL-Komi LLC – the right for Verchneyangareisky and Severo-Yareyaginsky licensed sites to the JV.
“LUKOIL-Komi” will invest into the added capital of JV “VOSTOK NAO”.
