Bashneft acquires companies owning licence areas in Bashkortostan

LLC Garsar holds a licence for geological exploration, prospecting and production of hydrocarbons at the Sabirovskiy licence area (the licence expires on December 31, 2035). The area borders the Karimovskoye and Zguritskoye oilfields developed by Bashneft.

LLC Mobel-Neft holds a licence for geological exploration aimed at finding and evaluating hydrocarbon deposits at the Arkayevsky licence area (the licence expires on December 31, 2016). Besides, LLC Mobel-Neft holds licences for exploration and production of hydrocarbons at the Zhukovskoye and Kazachkovskoye oilfields forming part of the Arkayevsky area (the licences expire on December 31, 2027 and December 31, 2032 respectively). The area borders the Zguritskoye and Znamenskoye oilfields developed by Bashneft.

Preliminary estimates suggest that С1+С2 recoverable oil reserves at the subsoil areas owned by LLC Garsar and LLC Mobel-Neft exceed 1.6 million tonnes.