In order to realize large-scaled project for exploration and operation of oilfields in Komi Republic (Russia), Global Energy, LLC developed the principles of joint project realization based on involvement of potential investor and strategic partner.
"Global Energy", LLC owns the concession licenses for development and exploration of three lots located in Komi Republic: Yuzhno Zverinetsky, Zverinetsky-1, Zverinetsky-2. According to the prelimenary report conducted by international auditor Miller and Lents, Ltd., the recoverable resources of oil were estimated as 50 million barrels as per SPE classification.
Currently, all relevant documentation has beensubmittedin order to get theproduction license for South-Zverinetsky lot validfor 25 years as well as the certificate of the evidence of discovery of this oilfield has been issued.
The total amount of investments to be provided for the project is no less than 120 million USD. The investment plan assumes drilling of three and five wells in 2011 and 2013 respectively. In order to run the oilfield servicing, the leading service companies, particularly PetroAlliance, Ltd., have been involved into this project.
Investment Policy of LLC "GLOBAL ENERGY" is directed at strategic management of the stock capital of the company and supposes the sale of fraction of shares or handling over of 5-50 % shares to potential investor. At the same time, it is not excluded the financing of 70 % of company's assets as a long term creditting.