Irkutsk Oil Company wins auction for oil site with 31 bln rbl bid

MOSCOW, Jul 12 (PRIME) -- Russia’s Irkutsk Oil Company has won an auction for the Tubinsky oil and gas site in the Irkutsk Region with a 30.58 million ruble bid, while the auctions for another three sites were cancelled as there was only one bidder, the Natural Resources and Environment Ministry said in a statement on Monday.

“The auctions for the right to develop the reserves of the Bilchirsky, Polivinsky, and Yuzhno-Teteisky sites were cancelled because only one bid was filed,” the statement read.

The other participants of the auction were Krasnoyarskaya Neftegazovaya Kompaniya (Krasnoyarsk Oil and Gas Company) and Sakhaneft.

The inferred resources of the Tubinsky site stand at 0.2 million tonnes of oil, 64.9 billion cubic meters of natural gas, and 3 million tonnes of condensate under the D1 category and 1.8 million tonnes of oil, 22 billion cubic meters of gas, and 1 million tonnes of condensate under the D2 category.

(74.4675 rubles – U.S. $1)

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