OJSC Orenburgneft (a member of the TNK-BP structure) funnelled more than US $800,000 24 million roubles towards exploration in the Saratov oblast in Q1 2010.
Development of the Kulikovskiy and Kamelikskiy licensed sites in the Saratov oblast’s Perelyubskiy district is enshrined in one of the provisions of the Agreement reached between TNK-BP and the oblast’s government. The rights to develop the Kulikovskiy site were acquired by OJSC Orenburgneft in 2007 and those for the Kamelikskiy site – in 2009 respectively. Currently, exploration drilling is underway at the Kulikovskiy site.
It is estimated that the company’s investments into exploration in the Saratov oblast in 2010 will reach approximately US $13 million (400 milion roubles).