Rosprirodnadzor Approves Product-Sharing Deal for Yalama-Samur
Posted on: Tuesday, 7 March 2006, 00:00 CST
MOSCOW. March 6 (Interfax) - Rosprirodnadzor, Russia's environmental watchdog, has approved the results of the ecological expertise of a draft product-sharing agreement and the feasibility study for the development of the Yalama-Samur section of the Caspian Sea, in line with the agency's report.
Under a law passed by the Federation Council in 2002, the Yalama- Samur section, with estimated reserves of 500 million tons of conventional fue, was included into the product-sharing regime.
Lukoil has a license for the section's exploration and development. Potential investments may exceed $5.5 billion. Tapped on a product-sharing basis, the Yalama-Samur section may yield the government about $11 billion over 25 years.
Source: Daily News Bulletin; Moscow - English
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