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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Tomas who wrote (2325)4/30/2001 1:37:02 AM
From: Tomas   of 2742
 
Russian company signs up for central Sudan block and eyes south
Slavneft shoots for Sudan

Upstream, April 27
By Vladimir Afanasiev

Russian-Belarus joint company Slavneft has signed a seismic and geological interpretation agreement for block 9 in central Sudan.

Company officials, visiting the country over the weekend, said it is also considering an exploration and development project in the Melut basin in the southern part of the country.

According to the agreement, Slavneft will pass the seismic and geological data over block 9 to its research subsidiary Migts, that is servicing the company's chief oil producing asset Megionneftegaz in western Siberia. Slavneft president Mikhail Gutseriyev says that the company is prepared to start drilling on the block in August if results of the interpretation are positive.

Company officials say that Migts has already been working on interpreting the seismic data over block 11 on which Slavneft committed in September last year.

Negotiations are under way to conclude a similar agreement for the seismic interpretation and further exploration of offshore block 15, located in the Red Sea. The block is believed to be mainly gas and gas condensate. Slavneft is set to team up with Russian state-owned oil company Rosneft.

The company is also said to be aiming to obtain a 46% stake in an international consortium to explore and develop two blocks in the Melut basin in south Sudan.
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