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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Investcafe
Provider: Investcafe

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ANK Bashneft' OAO And Administration Of Orenburg Region Sign Cooperation Agreement

Wednesday, 13 Mar 2013 08:00pm EDT 

ANK Bashneft' OAO (Bashneft) announced that Bashneft and the Administration of the Orenburg Region have signed an agreement for economic and social development till 2016 aimed at creating favorable conditions for economic and social development of the region. The agreement was signed by Bashneft President Mr. Alexander Korsik and Orenburg Region Governor Mr. Yuri Berg. The agreement is the result of the sustainable development of bilateral relations, as well as an evidence of Bashneft interest in further implementation of oil production and oil supply projects on the territory of the Orenburg Region. In particular, Bashneft intends to increase investments in exploration and development of fields located at the Kitayamsko-Blagoravskiy and Dachno-Repinsky license blocks, increasing the volume of oil production in the region to 220,000 tons per year by 2017. The Company will continue implementing oil product supply investment programs aimed at the rebranding and modernization of gas stations and bulk plants, as well as the renewal of the vehicle fleet and further improvement of services at Bashneft filling complexes. The Company will also continue to participate in projects aimed at the sustainable social development of the Orenburg Region. 

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