Rosneft and BP have agreed to develop subsoil resources within the Kharampurskoe and Festivalnoye licence areas of the Yamalo-Nenets Autonomous District in northern Russia.
The areas contain geological reserves exceeding 880 billion cubic metres of gas, Rosneft said in a press release.
The project envisages the development of the conventional gas reserves of the Cenomanian deposit and pilot production and subsequent full-scale development of the Turonian deposit as well as oil production optimisation and efficiency, the company said.
Rosneft will own 51% and BP will hold a 49%...
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