RUSSIAN privately held oil producers Lukoil and Tatnef t have teamed up with state-controlled Gazprom Neft to form a joint venture to target tight oil formations in the country's Orenburg region. Lukoil said that the joint venture - held equally between the trio - will receive exploration and development rights for the Savitsky and Zhuravlyovsky blocks, which together cover more than 1000 square kilometres in Orenburg's traditional hydrocarbon districts of Buzuluksky and Grachyovsky. A smaller block in the region - Zhuravlyovsky - contains some conventional oil reserves, including a depleted oilfield that was discovered in 1965, put into production and then idled. Because of the proximity of supporting infrastructure, the partners expect to begin their exploration efforts on Zhuravlyovsky, with plans to acquire around 118 square kilometres of 3D seismic by 2023.
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