Russia's environmental watchdog Rosprirodnadzor said Wednesday it has recommended to withdraw the license for TNK-BP Ltd.'s giant Kovykta gas condensate field, increasing pressure on BP PLC's (BP) Russian joint venture.
The recommendation has been sent to Rosnedra, a subsoil agency that has authority to revoke licenses, an official from Rosprirodnadzor said.
TNK-BP agreed in 2007 to sell the Kovykta license to state-controlled gas firm OAO Gazprom (GAZP.RS) for $1 billion, but talks between the two companies broke down.