The Federal Subsoil Resources Management Agency prolonged Belokamennoye field licenses
Saratov. The Federal Subsoil Resources Management Agency prolonged OAO Saratovneftegaz (MOEX: SNFG) (NK RussNeft subsidiary (MOEX: RUSN)) licenses to manage the subsoil resources within Belokamennoye field, as the company reports.
In particular, the Federal Subsoil Resources Management Agency prolonged OAO Saratovneftegaz license for oil and gas production in Volgograd area at Belokamennoye field until December 31, 2033. The company was awarded the license by Ministry of Natural Resources and Environment of the Russian Federation in 1999.
The license for oil and gas production within Belokamennoye field in Saratov region was equally prolonged. The company was awarded this license by Ministry of Natural Resources and Environment in 1998.
Belokammenoye field has been under commercial development since 1989. It is located in Volgograd and Saratov region. Saratovneftegaz produces oil and gas in Volgograd and Saratov region. OAO NK RussNeft owns 96.0899% of the company’s charter capital (99% of ordinary shares).