A trio of Russian producers — Lukoil, Gazprom Neft and Tatneft — an- nounced on Jun. 29 that they have es- tablished a joint venture (JV) for devel- oping hard-to-recover oil resources. The producers agreed to pool to- gether technological and innovative know-how to develop conventional oil layers as well as to explore and develop hard-to-recover reserves at two fields — Savitsky and Zhuravlyovsky — in the Orenburg region. Each participant will have an equal 33.3% share in the JV, dubbed New Crude Production Technologies (NC Jan.30’20).
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