SHELL EYEING URENGOI GAS/CONDENSATE VENTURE

Royal Dutch/Shell Group is vigorously negotiating a joint venture to develop a deep, high pressure gas/condensate play in the Urengoi region of the Russian Federation. Shell also is a bidder to develop oil and gas reserves off the Russian island of Sakhalin. Three other projects, including an existing oil field with acute environmental problems, are In preliminary stages of study by the company. Shell said it is interested in every aspect of exploration and production in the U.S.S.R. with the