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Rosneft, CNPC JV gets licenses for 2 oil and gas fields in Tyumen Region

 

Vostok-Energy, a joint venture between Russian state-controlled oil major Rosneft and China National Petroleum Corporation (CNPC), was awarded licenses to develop two oil and gas fields in Russia's Tyumen Region at auctions on Tuesday.

Vostok-Energy acquired a 25-year license for the Verkhnechersky oil and gas field with D1 reserves of 50 million tonnes of oil and 90 billion cubic meters of gas, under Russian classification of reserves.

Vostok Energy paid 780 million rubles for the license, while the starting price was set at 100 million rubles.

Vostok Energy also obtained a license for the Zapadno-Chonsky oil and gas field with reserves of 5 million tonnes of oil under the C3 category, 30 million tonnes of oil and 15 billion cubic meters of gas under the D1 category. Vostok Energy paid 399.5 million rubles for the license, with the starting price being at 85 million rubles.

Rosneft, Surgutneftegas and the United Oil Group, a subsidiary of Basic Element, also took part in the auctions.

Two subsidiaries of Russian oil major TNK-BP, Tyumeneftegaz and Novosibirskneftegaz, and a subsidiary of Russian gas producer Itera, OVIT, were not admitted for the auctions because they did not make advance payments.

Both fields are located 120 kilometers-150 kilometers from the East Siberia-Pacific Ocean oil exports pipeline, which is currently under construction.

Rosneft bought on Tuesday a license for the Preobrazhensky oil and gas field in the Tyumen Region for 928 million rubles. The starting price for the license was 145 million rubles. The field contains 20 billion cubic meters of gas reserves under the C3 category and 72 million tonnes of oil reserves and 70 billion cubic meters of gas reserves under the D1 category.

Vostok-Energy, the United Oil Group, the two subsidiaries of TNK-BP and the subsidiary of Itera also applied to take part in the auction. But only Vostok Energy and the United Oil Group made advance payments.

Also, the LugaNeft Company bought a license for the Severo-Mogdinsky oil and gas field in the Tyumen Region for 343 million rubles. The starting price was set at 35 million rubles. The reserves at the field are estimated at 15 million tonnes of oil and 50 billion cubic meters of gas under the D1 category.

Rosneft and Surgutneftegas also took part in the auction.

The two subsidiaries of TNK-BP and the subsidiary of Itera were not admitted for the auction because they did not make advance payments.

(25.5999 rubles - U.S. $1)

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