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Bashneft Invites Partners

By The Moscow Times

Bashneft, controlled by billionaire Vladimir Yevtushenkov’s Sistema, plans to invite Rosneft and LUKoil to cooperate on developing Arctic fields Trebs and Titov it won in a tender Thursday.

Bashneft may invest $5 billion to $6 billion in the fields, which will produce about 10 million tons of oil a year, board member David Yakobashvilii told reporters Friday. Bashneft will spend less if a partner joins, he said.

(Bloomberg)


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