Bashneft to prepare feasibility study for Trebs and Titov field in 2011
MOSCOW. Feb 10 (Interfax) - Bashneft plans to prepare a feasibility study for the development of the Trebs and Titov field in 2011, the company said in a statement.
"We have plans in 2011 to prepare a feasibility study for the project. Public hearings will be held, environmental surveys will start for building facilities and transportation systems, along with seismic exploration and the design and development of wells," Viktor Khoroshavtsev, Bashneft's president, was quoted as saying in the statement.
Receiving licenses for the development of the Trebs and Titov field will open up new opportunities for the company to boost oil production and balance total production and refinement in the future through using its own resources and thereby reducing dependence on outside crude suppliers.
"We are interested in new effective production assets, probably more than any other domestic vertically integrated oil company. The company is now ready to develop fields: We have the necessary financial resources at our disposal, as well as a serious scientific and project base, through which not one generation of oil producers has. The new team has brought its experience in working with modern production technologies, enhanced oil recovery, field modeling and management of their development," Khoroshavtsev said.
It was earlier reported that the Russian government gave orders to present OJSC Bashneft a license for the Federally designated oil field Roman Trebs and Anatoly Titov. Russian Prime Minister Vladimir Putin signed the necessary order for this. At the same time, the government declared a tender for the field invalid since only one application had been submitted.
Total recoverable C1 reserves at the Trebs and Titov section come to 89.73 million tonnes, C2 - 50.33 million tonnes and C3 - 59.29 million tonnes. Forecast D1 reserves come to 70 million tonnes.
According to the tender's terms, geological exploration should be completed within five years followed by test production at the fields.