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American company may be banned from producing oil in Russia
27.07.2007 16:27
American company may be banned from producing oil in Russia

Russian Federal Service for Supervision of Natural Resources Usage intends to revoke a license for oil field Gasha in Dagestan, South Russia, from DNK ltd, 50% of which belong to American Transmeridian Exploration Company.
      In the course of the inspection the specialists found out that the company failed to bring its development project into line with the Federal Service and allowed a subsoil plot to be polluted. Besides, it didnt provide the requested documents confirming paid taxes.
      The expected reserves of the Gasha oil field are estimated at about 11 million barrels, but 20 July the company reported on its official site that additional stocks of oil and gas were discovered.


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