Shell takes on Nenets tundra
Energy company Shell acquires its first license in the oil-rich Timan Pechora province.
The subsidiary unit Shell Neftegaz Development bought the license to the East Talotninsky field for a total of 60.5 million RUB, regional authorities inform. It is the company’s first ever license in the region which is dominated by the companies Lukoil, Rosneft, Bashneft, as well as Zarubezhneft.
Several more field licenses were sold in the auction, among them to the East Padimeisky field and the Savatinsky field which were both sold to Bashneft for respectively 323,5 million RUB and 46,5 million RUB, Oilru.com reports.
Read also: Oil companies join efforts in Timan Pechora
The Timan Pechora province is considered one of the most prospective oil regions in Russia. It covers both the Nenets Autonomous Okrug and the Komi Republic, as well as the waters in the Pechora Sea.
As BarentsObserver has reported, several major projects are in the pipeline in the region. Among them is the Pechora LNG project, as well as projects linked with the development of offshore field in the Pechora Sea.
Read also: Pechora LNG from year 2015
