Slavneft signs prospecting agreement with Republic of Ingushetia

Dec 08, 2000 01:00 AM

An agreement between the Republic of Ingushetia and Slavneft, the Russian-Belarusian oil company, was signed in the Ingush capital Magas by Ingush President Ruslan Aushev and Slavneft chairman Mikhail Gutseriyev.
Similar agreements had been signed earlier with other Russian oil companies.
As Ingush president Aushev informed, Slavneft is active in 12 Russian regions and in the Northern Caucasus.

The agreement signed in Magas envisages exploratory work on the republic's oil deposits with the aim of increasing extraction, creating jobs and attracting investment.
According to Mikhail Gutseriyev, with its strong scientific-research base, oil refineries and exploratory capability Slavneft can make a weighty contribution to the development of the republic's oil complex.
Gutseriyev added that Slavneft was extracting 12 mm tons of oil and refining 16 mm tons of oil daily.

Source: BBC via Energy24
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