The Anglo-Dutch Shell Oil Co. has begun its third production project in Russia. On Thursday, Tatneft plans to sign an agreement with Shell forming a joint venture to develop shale oil deposits in Tatarstan. There are 12 such deposits known in the Cheremshano-Bastryksky licensed zone in Tatarstan with a total recoverable reserves of 26 million tons. Tatneft expects the joint venture to produce 1.5 million tons of shale oil per year by 2017. Shell produces 2.5 percent of the world's oil and 3 percent of the world's natural gas. It owns 27.5 percent of shares in Sakhalin Energy, operator of the Sakhalin 2 project; 50 percent of Salym Petroleum Development, the project to develop the eponymous deposits; 27 filling stations in Moscow and St. Petersburg; and 50 percent of Shell and Aerofuels, which fuels airplanes at Domodedovo Airport in Moscow. Salym Petroleum Development is expected to produce...

Read the full article Shell Gets Viscous with Tatneft.

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