Bashneft Gets Trebs, Titov OK

摘要

Russia's Bashneft has been given the green light to start work on the strategic Trebs and Titov oil fields in the northern Nenets region, which it won after submitting the sole bid late last year. The government has approved the handover to Bashneft of a license for the fields, estimated to hold more than 1 billion bbl of re- serves. According to a decree posted on the gov- ernment's website, the competition for the li- cense flopped because only one contender sub- mitted a bid and paid the required 18.476 bil- lion rubles ($630 million). The license is for 25 years, including a five-year exploration period.