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Reuters: Russia’s Tatneft picks Shell to help tap heavy oil

Mon Sep 24, 2007 1:53 PM BST

MOSCOW, Sept 24 (Reuters) – Russia’s mid-sized oil firm Tatneft (TATN3.MM: Quote, Profile , Research) has chosen oil major Royal Dutch Shell (RDSa.L: Quote, Profile , Research) as a strategic partner to help it develop deposit of heavy bitumen oil, the company said on Monday.

It gave no details of the agreement. “The deal will be signed on September 27,” said a Tatneft spokesman.

Tatneft has said it controls deposits which may contain billions of tonnes of heavy bitumen oil.

© Reuters 2007. All Rights Reserved.

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