Ritek plans to extract oil and gas near Volgograd
Edited by Rhod Mackenzie / 2015-11-26 12:37:10
The company has won an auction for the right to use the subsoil on the left bank of Volga aiming for geological study, exploration and oil and gas extraction at the trans-Volga site in the Volgograd region.
The potential of hydrocarbons raw materials of this site makes up 6.1 mln tons of recoverable oil resources and 32.8 bln cubic m of recoverable gas resources.
Ritek plans to start geological exploration works at the Trans-Volga site in 2016.
The area of this site is 1,345.5 sq km.
