12 Aug 2009 18:09

Rosneft expects to participate in development of oil fields on Abkhaz shelf

SUKHUMI. Aug 12 (Interfax) - Rosneft expects to receive a license from the government of Abkhazia to develop oil fields on the self-proclaimed republic's shelf, Rosneft President Sergei Bogdanchikov told journalists on Wednesday in Sukhumi, where he is taking part in Russian-Abkhaz intergovernmental talks.

"The license needs to be received first of all. The second thing is to acquire the seismic exploration that has already been carried out and develop it. After that, we'll carry out seismic exploration using our own resources," he said.

The area that needs to be surveyed consists of about 2,500 square kilometers.

"If it is confirmed that the structures we know about now are present, specifically the Gudautskaya structure, we will carry out exploration with drilling," he said.

Bogdanchikov did not specify how much oil could be produced on the Abkhaz shelf.

It was reported earlier that the Abkhaz shelf has oil resources ranging from 350 million to 500 million tonnes.