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RussNeft and Government of Khanty-Mansi Autonomous Region Signed a Cooperation Agreement

11.04.2006 "Prime-TASS"

Oil Company RussNeft OAO and the Government of Khanty-Mansi Autonomous Region have concluded a cooperation agreement, reports the company’s press-service. The agreement specifies priorities in the interaction between the Parties aimed at stable development of the regional economy and successful operation of the company’s subsidiaries in the area.

RussNeft undertakes to make tax payments in the local budgets in full and due time, to improve the local environment, and to take part in Yugra’s social projects. 
The main principles of the agreement are joint actions of the Parties aimed at further development of mineral and raw materials basis, rational utilization of the local natural recourses, raising industrial and investment potential of Western Siberia and joint implementation of innovative projects.
Khanty-Mansi Autonomous Region is the main area where RussNeft ‘s subsidiaries operate. Over the territory of the region the main resource and industrial potential of the holding company is found.
The following subsidiaries of RussNeft operate at the oilfields of the Nizhnevartovsk region: Varieganneft OAO, MTK Aganneftegazgeologia OAO, Belye Nochi OOO, ST Goloil ZAO, NAK Aki-Otyr OAO, SP Chernogorskoye OOO, Mokhtikneft OAO, Archneftegeologia ZAO, Zapadno-Malobalykskoye OOO.
The company is implementing large-scale investment projects in Yugra. The Shapshinsk group of oilfields is the largest. It includes Verkhne-Shapshinsk, Nizhne-Shapshinsk and Sredne-Shapshinsk license areas with more than 70 million tons of recoverable hydrocarbon reserves.

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