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Thursday, May 08, 2008

Duo beat Rosneft on Siberian tender

07 May 2008 - Upstream OnLine - A consortium of Russian and Vietnamese state oil firms, ZarubezhNeft and PetroVietnam, has won a tender to develop four oil blocks in west Siberia. The consortium beat Russia’s largest oil producer, state-controlled Rosneft, which also took part in the tender, according to Reuters. The blocks, which consist of 13 fields with total recoverable reserves of around 80 million tonnes of oil, are a part of the Central Khoreiversky deposit in the Nenets region. A source at the Russian company said the consortium is going to start drilling at the new fields in 2008 and can produce 4-5 million tonnes per year in five to seven years.

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