Source Pravda.Ru

Slavneft Signs Oil Agreement With Sudan Government

The Slavneft oil company has signed an agreement with Sudan Government regarding a number of oil and gas deposits, known as Block-9 and situated in Central Sudan in the Hartum province. The company delegation headed by Mikhail Gutseriyev, Slavneft president, visited Sudan and signed the agreement, according to the company's press service's report. The total investment volume to be made by Slavneft into geological exploration and development of the deposit is $126m. The agreement stipulates the creation of a consortium, with Slavneft's stake of 93% in the charter capital, for that purpose. The determined oil deposit volume in this region is 30 million tons, while the estimated volume is around 200 million tons. As RBC reported earlier, the Russian part is ready to start the development of Block-9 as early as in February-March 2002.