Tatneft, Shell Deal on Russian Oil Sands
Associated Press 09.27.07, 11:04 AM ET
MOSCOW -
Russian oil producer OAO Tatneft said Thursday it signed a deal with Royal Dutch Shell Group to jointly develop oil-bearing tar sands in the central Tatarstan region.
The company gave no indication of when it expected to start producing oil from the project, or how much it could ultimately produce. Earlier reports had put the project's potential daily output at around 40,000 barrels.