Murmansk rejected proposal from Naryanmarneftegaz

Publish date: May 16, 2006

The Murmansk regional administration has rejected a proposal from the Naryanmarneftegaz oil company to establish an oil terminal on the Kola Peninsula.

The administration maintains that the application must to be developed further before it can be approved. Naryanmarneftegaz is a joint venture by Lukoil and ConocoPhillips. It operates primarily in the Timano-Pechora province. The company is still encouraged by the Murmansk administration to invest in the development of the western shore of the Kola Bay, BarentsObserver reported.

Murmansk regional administration has also decided to refuse in considering proposals on oil terminal establishing in the Kola Bay to provide marine and environmental safety. There are several oil complexes in the Kola bay already.