GLOBAL-EXPRESS24

Oil Company.Since 1996, JS- C- Oil holds the 25th-years and 5th-years licenses for oil & gas exploration and production in the Chernavsky and Irgizsky license blocks, located in the north-east of the Saratov region. The licenses, SRT 00219 NR and SRT 12587 NP, cover some 2300 sq. km. of semi-arid, steppe-type land on the left bank of the Volga river in the Saratov region. The area is sparsely populated and moderately cultivated, but infrastructure can be described as good with adequate road and rail links as well as gas and oil pipelines crossing the region. The Saratov region is the oldest oil-producing region in Russia. The main oil, gas and NGL discoveries over the recent years took place in the eastern part of Saratov region, within the borders of Perelyubsky and Pugachevsky districts. The recoverable reserves of hydrocarbons in the licensed blocks are estimated in the rate of 6.8 millions of tons. The large amount of exploration works has been made during 1997-2007 and licensed.