Printer Friendly

GLOBAL NATURAL RESOURCES ANNOUNCES NEGOTIATIONS WITH URENGOYGAZPROM

GLOBAL NATURAL RESOURCES ANNOUNCES NEGOTIATIONS WITH URENGOYGAZPROM
    HOUSTON, July 8 /PRNewswire/ -- Global Natural Resources Inc. (NYSE: GNR) announced today that it had begun negotiations with Urengoygazprom (UGP), a production amalgamation  which operates a number of fields in the Yamal-Nenets area of Western Siberia, including the giant Urengoy gas field, the largest gas field in the world.  The negotiation involves two possible projects, one for the recovery of flare gas from certain oil production at Urengoy and one for the operation and production of certain oil and condensate reservoirs in the Pestsovoe field, adjacent to Urengoy.
    In connection with the negotiation, the company has entered into a protocol with Tyumen Gas Technology and Tyumen Gas Engineering, research institutes affiliated with UGP, to provide assistance in formulating a joint enterprise to undertake these projects.
    These activities are in addition to those conducted in Tatarstan by the company's subsidiary Texneft.  The new activities will be conducted in a separate subsidiary.
    Global Natural Resources Inc. is a Houston-based energy company engaged in the exploration, development and production of oil and gas in North America.  The company also owns an interest in long-term oil and gas production sharing contracts in Indonesia and has joint venture projects in Tatarstan-Russia and Argentina.
    -0-                        7/8/92
    /CONTACT:  Robert F. Vagt or Eric Lynn Hill both of Global Natural Resources Inc., 713-880-5464/
    (GNR) CO:  Global Natural Resources Inc.; Urengoygazprom ST:  Texas IN:  OIL SU : LD -- NY064 -- 7565 07/08/92 16:25 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 8, 1992
Words:245
Previous Article:BLESSINGS DECLARES DIVIDEND
Next Article:SOUTHERN CALIFORNIA EDISON LARGEST FINANCING DAY EVER
Topics:


Related Articles
GLOBAL NATURAL RESOURCES AND PRUDENTIAL INSURANCE COMPANY REACH AGREEMENT
GLOBAL NATURAL RESOURCES ANNOUNCES JOINT VENTURE WITH TATNEFT, A RUSSIAN AMALGAMATION
SPHINX SUBSIDIARY ANNOUNCES OIL PRODUCTION ACTIVITY
GLOBAL NATURAL RESOURCES COMMENTS ON RUSSIAN NEGOTIATIONS
SPHINX FINALIZES SERVICE AGREEMENT
ALLEGHENY & WESTERN ENERGY CORPORATION ANNOUNCES ACQUISITION
GLOBAL NATURAL RESOURCES ANNOUNCES APPOINTMENT OF WILLIAM D. HUBBARD AS SENIOR VP - EXPLORATION
Schroeder: Iran, Most Effective Player in Maintaining Regional Security.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters