Tatneft interested in developing Arkhangelsk region oil deposits

Aug 06, 1999 02:00 AM

Tatneft has announced that the company planned to send a team of experts to the Nenets autonomous district, part of the Arkhangelsk region in the Far North, in the near future.
The experts are to look into the possibilities for participation in oil development projects in the Nenets district
.It did not say whether Tatneft was interested in any particular projects yet. The company noted, however, that regional officials in Arkhangelsk have expressed strong interest in working with Tatneft and are willing to offer the company certain tax incentives.
Company managers said that extensive feasibility studies must be conducted before Tatneft can commit to work in a region that does not have an extensive network of roads, power lines, communications or pipelines.
Tatneft is already working on some non-oil projects in the Arkhangelsk region. The company's press service noted recently that Tatneft is currently drilling for diamonds at the Chidva and Dvina-Pinega sites. Work on the first test shaft, drilled at Dvina-Pinega, was completed in late July. Tatneft said that no diamonds were found in the shaft.
The Russian federal government is financing the initial stages of Tatneft's diamond-prospecting work in the Arkhangelsk region.

Source: NewsBase
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