Trebs and Titov oil fields

Trebs and Titov oil fields is a complex of Arctic oil fields in the Timan-Pechora Basin in Nenets Autonomous Okrug, Russia.

Trebs and Titov oil fields
Location of Trebs and Titov oil fields
CountryRussia
RegionNenets Autonomous Okrug
Offshore/onshoreonshore
Coordinates68°39′11″N 57°49′40″E
OperatorBashneft
PartnersBashneft (74.9%)
Lukoil (25.1%)
Production
Recoverable oil (million tonnes)210.9

Oil fields have around 1.1 billion barrels (170×10^6 m3) of estimated oil reserves.[1] Recoverable reserves are 78.1 million tons in the Trebs field and 132.8 million tons in the Titov field.[2][3] In 2006, the Trebs and Titov fields were designated as "strategic fields".[4]

The license for development of these fields was auctioned in 2010. Although initial interest was shown by Lukoil, TNK-BP, Gazprom Neft, Surgutneftegaz, Bashneft, and ONGC, the final bid was made only by Bashneft.[5] The licence was issued to Bashneft on 2 December 2010.[6]

On 15 April 2011, Lukoil agreed to acquire 25.1% stake in the project.[7][8]

References
  1. "Players make bids for Trebs and Titov". Upstream Online. NHST Media Group. 2010-09-15. (subscription required). Retrieved 2011-01-23.
  2. Newman, Adam (2010-07-22). "Trebs and Titov oil fields: Russia's last sizable deposits?". NG Oil & Gas Russia and CIS. GDS Publishing. Archived from the original on January 3, 2011. Retrieved 2011-01-23.
  3. "Russia needs $ 2 bn to develop Trebs and Titov oil fields". Alexander's Gas and Oil Connections. 2010-07-17. Retrieved 2012-02-15.
  4. "Subsoil law heads to Duma". Upstream Online. NHST Media Group. 2006-04-11. (subscription required). Retrieved 2011-01-23.
  5. Soldatkin, Vladimir (2010-10-28). "Russia's Bashneft poised to win Arctic fields-sources". Reuters. Retrieved 2011-01-23.
  6. Bachman, Jessica (2010-12-02). "Russia's Bashneft wins Trebs and Titov oil fields". Reuters. Retrieved 2011-01-23.
  7. "LUKoil, Bashneft to develop giant Trebs, Titov oilfields". RIA Novosti. 2011-04-15. Retrieved 2011-05-01.
  8. Amos, Howard (2011-04-18). "Bashneft Kick-Starts Work on Trebs, Titov". The Moscow Times. Retrieved 2012-02-15.
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