8 Feb 2011 20:00

Russian govt transfers Trebs-Titov license to Bashneft

MOSCOW. Feb 8 (Interfax) - The Russian government has directed that the license to the strategic Trebs and Titov oil fields be transferred to Bashneft .

The instruction was signed by Prime Minister Vladimir Putin.

The government acknowledged that only one bid was received in the tender for the license to the fields.

It was reported earlier that Russian subsurface resource use agency Rosnedra submitted a draft resolution to the government awarding the license to Bashneft.

The combined recoverable resource in the fields amounts to 89.73 million tonnes of C1 oil reserves, 50.33 million tonnes of C2 and 59.29 million tonnes of C3. D1 forecast reserves total 70 million tonnes.

RTS$#&: BANE