The new JV to Develop “Hard-to-Recover” Oil Reserves in the Volga–Urals Region Established by Gazprom Neft, LUKOIL & Tatneft
Gazprom Neft, LUKOIL and Tatneft have closed a transaction on establishing a joint venture for the exploration and production of hard-to-recover hydrocarbon reserves in the Orenburg Oblast. The new business’s — New Oil Production Technologies LLC’s — asset portfolio includes the Savitsky and Zhuravlevsky license blocks. Each party has been allocated an equal one-third interest in the joint venture. …