BP and Russian state-affiliated Rosneft have created a new joint venture called Yermak Neftegaz that aims to start exploring onshore areas in the Yenisey-Khatanga and Western Siberia basins this winter.
Previous studies by the US Geological Survey estimated that the north and east margins of Siberia contain 106 Tcf of undiscovered conventional gas and 8 billion barrels of crude.
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