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. Last Updated: 07/27/2016

Shell Eyes Siberia

MOSCOW () -- Anglo-Dutch Royal Dutch/Shell, one of the world's biggest oil companies, is considering plans to develop an oil field in the east Siberian region of Krasnoyarsk, a top regional official said on Wednesday.

Sergei Arinchin, the deputy head of the Krasnoyarsk regional administration, said that the project would cover the Vankor oil deposit, which has total estimated recoverable reserves of 130 million tons of oil and 30 billion cubic meters of associated gas.

Preliminary negotiations took place earlier this year in London and Western specialists were due in Krasnoyarsk by the end of this month to hammer out technical details of the project, Arinchin said by telephone from Krasnoyarsk.

The Western group will then decide whether to continue the projec