Bashneft Invites Partners

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)


Read more