Russian-British TNK-BP says may participate in Trebs and Titov deposits tender

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Russian-British TNK-BP oil company may participate in an auction for the Trebs and Titov oil deposits through its subsidiary Samotlorneftegaz, a company spokesman said on Wednesday.

Russian-British TNK-BP oil company may participate in an auction for the Trebs and Titov oil deposits through its subsidiary Samotlorneftegaz, a company spokesman said on Wednesday.

"Samotlorneftegaz owned by TNK-BP is really considering participating in the tender for Trebs and Titov deposits," the spokesman told RIA Novosti.

Russia's largest private oil company LUKoil said earlier on Wednesday that it had already paid for participation in the auction.

Trebs and Titov deposits, whose reserves are estimated at 78.9 million tons and 63.4 million tons of oil under C1 category, will be auctioned off on December 2 with a starting price of 18.2 billion rubles. The bid book will close on September 20.

The government wants participants in the tender to refine no less than 42 percent of oil at local facilities and to sell at least 15 percent of oil at the Russian Commodities and Raw Materials Exchange.

MOSCOW, Sept 15 (RIA Novosti) 

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