06 April 2004 20:48
Surgutneftegas to set up joint venture with Marathon Oil
MOSCOW. April 6 (Interfax) - OAO Surgutneftegas has proposed to the U.S. company Marathon Oil to set up a joint
venture to develop oil and gas fields in Western Siberia.
Surgutneftegas Press Secretary Raisa Khodchenko told Interfax that the company has sent a packet of documents to
Marathon Oil dealing with the setting up of infrastructure at these fields. "We have the Rogozhnikovskoye field
there and their two are nearby. Therefore we could build a joint pipeline and road to the fields," Khodchenko
said.
She said that in 2003 Surgutneftegas and Marathon Oil signed an agreement on cooperation in Khanty-Mansii autonomous
district.
Marathon acquired 100% of shares in the U.S. company Khanty- Mansyisk Oil Corp, which owns proven and possible
reserves of about 300 million barrels or 40 million tonnes, which may be increased to 900 million barrels.
The new owners plan to invest $378 million in drilling wells, laying pipelines across the river Ob and equipping
fields over the next five years. [RU EUROPE ASIA EEU EMRG US ENR CRU OIL MEG] rd
[Interfax] |
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