Russian Ministry of Natural Resources Company News

The Ministry of Natural Resources has identified and approved more than 30 potential structures for the West Medvezhye gas and condensate project, which has C3 recoverable resources of 170 million barrels of oil equivalent for three structures.

Gazprom's plan to buy TNK-BP's controlling stake, valued at $800 million, in a strategically important gas field called Kovykta is being hindered as the Russian giant struggles to come up with the necessary cash up front.

Negotiations between TNK-BP and Gazprom over the giant Kovykta gas field in Siberia will be concluded within weeks, a TNK-BP spokesperson said Friday.

Urals Energy responded to reports and comments on Tuesday attributed to Oleg Mitvol, Deputy Head of Rosprirodnadzor, regarding accusations made by unnamed local environmentalists over alleged environmental violations by the Company.

Imperial Energy, together with other resources companies operating in Russia, on Friday met with representatives from the country's Ministry of Natural Resources and DeGolyer and MacNaughton.

Imperial Energy Corp. PLC on Friday said that it has attended a meeting with the Deputy Head of Rosprirodnadzor Oleg Mitvol and the Governor of Tomsk region Victor Kress.

Baltic Oil Terminals Plc confirmed that drilling has commenced on its Privolny license block in the Kurgan region of Western Siberia, Russia.

Imperial Energy Corp. PLC on Tuesday announced a new 20-year Exploration and Production License in respect of the Maiskoye Field, Block 70, Tomsk, Western Siberia, Russian Federation.

Saga Oil ASA said that Promgeotek LLC, a subsidiary, has officially been granted the License for Production of Oil and Gas at the East Shaltinsky oil field.

Russian gas monopoly Gazprom is close to a deal with Royal Dutch Shell to allow the state-owned natural gas giant to enter the Sakhalin-2 oil and gas venture, Gazprom board chairman Dmitry Medvedev said Tuesday.