ANOTHER U.S.-U.S.S.R. VENTURE SHAPING UP

U.S. and Soviet partners are forming a joint venture to develop oil and gas reserves in the Bakhilovsk region of western Siberia. Golden Mammoth, a joint venture of Anglo-Suisse Production (Cyprus) Ltd. and the Soviet oil and gas production association Varyeganneftegaz (VNG), plans to drill more than 500 wells in Bakhilovsk, Verkan Kolik Yegan, Verenska, and North Khokhryakovsk fields. Partners estimate the deal involves recoverable reserves of about 2 billion bbl.

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