LUKOIL discusses prospects for Trebs and Titov oil fields

LUKOIL Vice-President Leonid Fedun said today that a joint venture with Bashneft at the Trebs and Titov oil fields will make it possible to develop LUKOIL’s deposits with reserves of 300 million barrels of oil equivalent.
The deposits are located close to the fields of the joint venture and will be profitable if they use the infrastructure of the Trebs and Titov fields, Fedun said.
In his words, LUKOIL paid 160 million U.S. dollars for a 25.1-percent stake in the Bashneft-Polyus joint venture, which owns a license for the use of the territory where the Trebs and TItov fields are located.