According to BP, the two companies will create a joint venture to be based at Taas-Yuriyakhneftegazdobycha.
The new joint venture will continue development of the Middle Botuobinskoye oil and gas condensate field — Taas-Yuriyakhneftegazdobycha’s major asset — which has recoverable reserves of 1.2 billion barrels of oil and 181 billion cubic metres of gas.
It currently produces about 18,000 barrels of oil per day.
