Tatneft and Shell to Develop Heavy Oils in Russia

Russian exploration company Tatneft and UK-based Shell have teamed up to form a strategic partnership to devise a programme for heavy oil development in the republic of Tatarstan.

Under the terms of the agreement, the two companies aim to develop heavy oil in the region before conducting a feasibility study to assess technologies for extraction and processing, part of existing exploration and production licenses held by Tatneft.

Shell says the agreement opens the door to other potential joint activities, including the acquisition of new licenses for hydrocarbon exploration in Tatarstan and elsewhere in Russia.