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5. OTHER VENTURES

a) BHP of Australia has reportedly started feasibility work with its American subsidiary Hamilton Oil and the Russian Gazprom on seabed drilling the Pechora Bay.

b) Neste of Finland and TransNeft of Russia are negotiating a deal to construct a new pipeline from the Russian north to refineries in Finland.

c) Occidental Petroleum of the US began negotiations in early

1993 to form a joint venture with Ukhtaneftegazgeologiya and

KomiNeft for exploitation of oil leases granted in the Komi

Republic.


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