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Rosneft denies Bashneft cooperation offer on Trebs, Titov deposits

Russia's largest oil company Rosneft has denied proposing cooperation with mid-sized oil company Bashneft in development of the huge Trebs and Titov oil deposits, Rosneft President Eduard Khudainatov said on Friday

Rosneft denies Bashneft cooperation offer on Trebs, Titov deposits Rosneft denies Bashneft cooperation offer on Trebs, Titov deposits

"We have not turned to Bashneft, have not met or held any talks," Khudainatov said.

Bashneft is one of two bidders left in the tender for the Trebs and Titov deposits. The second participant in the tender, Surgutneftegas, has not yet made an advance payment or presented its feasibility study.

Khudainatov said that if Bashneft proposes cooperation with Rosneft after getting the license, the company would scrutinize the project's potential.

The government will auction the fields, located in the oil-rich northern Timan-Pechora province, on December 2.

In September, the government admitted only Surgutneftegas and Bashneft to the tender and rejected bids by LUKoil, TNK-BP, Gazprom Neft and Nord Imperial, part of India's ONGC, on procedural grounds.

The Trebs and Titov deposits are among the most promising in the Timan-Pechora province.

Source : RIA Novosti