Bashneft May Offer ONGC Arctic Field Access as Spending Starts
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OAO Bashneft, controlled by Russian billionaire Vladimir Yevtushenkov’s AFK Sistema, may offer India’s Oil and Natural Gas Corp. access to Russian arctic oil fields in exchange for assets as development spending starts.
Bashneft is reviewing a number of ONGC assets to take in exchange for access to the Trebs and Titov deposits, slated to start output in 2013, Bashneft President Alexander Korsik told reporters in Moscow today.