Source Pravda.Ru

British Petroleum allies with Russian oil group

British Petroleum (BP) has made an alliance with Russian oil group Rosneft, as a joint effort is made to discover oil resources in the Far Eastern island of Sakhalin.

Shell and Exxon Mobil oil companies are already operating in Sakhalin, after rumours that there are sizeable deposits of crude are still to be found, despite the fact that in the last thirty years, five enormous oil wells with huge deposits have been discovered there.

BP and Rosneft have together signed an agreement which gives the British company a 49% stake and a five-year exploration licence in the area immediately north of Sakhalin island. After seismic tests, drilling will commence in early 2004.

John ASHTEAD PRAVDA.Ru LONDON UNITED KINGDOM

Comments
Putin dislikes the idea of US army bases coming to Kuril Islands
USA plays to pretend a mighty dragon that can no longer breathe fire
Brexit: The UK's misunderstanding of Democracy
Putin dislikes the idea of US army bases coming to Kuril Islands
Madrid, shame on you!
Brexit: The UK's misunderstanding of Democracy
Putin dislikes the idea of US army bases coming to Kuril Islands
Russians lose faith in their future, get ready for worse
Capital outflow from Russia sets new records
Malaysia complains of faulty Russian Sukhoi Su-30 fighter jets
Putin dislikes the idea of US army bases coming to Kuril Islands
Men's presence in maternity wards during childbirth considered shameful in Russia
Macron challenges Trump. French independence and croissants at stake
Russia’s sanctions against Ukraine send message to Washington
Russia sells arms to Asia to maintain peace in the world
The Amazon and the New Conquistadores
Putin's three days in Singapore mark Russia's major geopolitical changes since 2000
Castro sued over alleged torture
Macron challenges Trump. French independence and croissants at stake
Castro sued over alleged torture
Malaysia complains of faulty Russian Sukhoi Su-30 fighter jets