Sistema’s oil subsidiary ANK Bashneft has received a licence to develop the Trebs and Titov oilfields in Russia.
Russian Prime Minister Vladimir Putin signed Decree No 152-r, granting the licence for the development of the oilfields.
Bashneft received the licence for subsoil deposits, which includes the Trebs and Titov oilfields, which are located in the Nenets autonomous district of Russia.
Bashneft will pay RUR18.5bn ($630m) for the licence.
The total recoverable oil reserves (C1 and C2) of both fields amount to 140.1 million tonnes.
