Bashneft Oil Company To Develop Oil Deposits In Kazakhstan

Bashneft oil company has reached an agreement with Kazakh oil companies on a joint development of two oil deposits in Kazakhstan, the Bashkir Cabinet reported. A license agreement is expected to be signed in the near future and geological exploration will start soon. Kazakh oil deposits are located not far from Bashkiria and the joint project will be favorable for Bashneft whose oil deposits will soon be exhausted. Oil produced in Kazakhstan will be transferred to oil refineries in Bashkiria via oil pipelines that are already operating.

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