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21 August, Monday

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Bashneft and Lukoil registered a new joint venture in Iskateley village in Nenets Autonomous District

Business

Bashneft  and Lukoil registered a new exploration joint venture (JV ) — Oil Company East NAO LLC — in Iskateley settlement of the Polar region of Nenets Autonomous District. This was reported by General Director of Lukoil-Komi LLC Peter Oboronkov at a working meeting with the head of the Nenets Autonomous District Igor Koshin on Tuesday.

According to Peter Oboronkov, seven license areas were transferred to the new enterprise. The founders intend to organize a project presentation and talk about the plans of the new company in Naryan-Mar in the first half of June.

As it was previously reported, the negotiations on the establishment of the joint venture began in October  of 2013. Partners have available infrastructure facilities, which will optimize the development of new fields.

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