OIL DEVELOPMENT PROGRAM PLANNED IN RUSSIAN BASIN

A U.S.-Norwegian combine last week disclosed plans for an exploration and development campaign in the Timan Pechora basin of Russia. Partners Texaco Inc., Exxon Corp., Amoco Corp., and Norway's Norsk Hydro AS formed Timan Pechora Co. LLC (TPC) to conduct the project on a contract area covering 2,847 sq miles. Project site for the limited liability company lies north of the Arctic Circle, about 1,100 miles northeast of Moscow. Texaco said the contract area holds estimated recoverable

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