November 8, 2011
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Shell Gets First Tundra License For Timan Pechora

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, reports.

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