Volga | Materials, extraction

Shell and Tatneft to pilot bitumen production in Tatarstan

15 May '08
Shell and Tatneft may invest between $100m and $200m in a pilot project aimed at developing bitumen deposits in Tatarstan, Interfax reports.

The firms said financing on the project would be spaced out in stages, to avoid heavy financial burdens on partner firms involved.

The advantage of such projects is that they can be implemented step by step, Shell's Chairman in Russia, Chris Finlayson, said, which means no significant investment is needed straight away.

Mr. Finlayson also added that Shell engineers were currently preparing a technical feasibility study for the project.
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