OREANDA-NEWS. On 11 August 2009 was announced, that “Russneft” and “MOL” (50-50% owners of ZMB) came to the agreement about the solutions to meet Rosnedra requirements regarding gas utilization in the ZMB field.

The Board has approved a work programme for ZMB aiming 95% utilization of the produced associated gas in the filed. According to the decision ZMB will install gas turbine driven electric generators. The produced electricity will be utilized in the oil production process of the field.

The Board also decided to start an additional drilling programme in the field aiming to drill 12 new production wells.

The Board approved the necessary budget. According to the decision ZMB will finance the above Work Programme from its won financial resources generated during the second half of the year.

The Parties agreed to do all the necessary steps to fulfill the license agreement of ZMB.