Minister: Four companies bid for Russia’s Erginskoye oilfield

MOSCOW, Jun 16 (PRIME) -- Russian oil major Rosneft, its subsidiary RN-Uvatneftegaz, Gazpromneft-Khantos – an affiliate of oil company Gazprom Neft, and company PionerGeo have bid at an auction for the Erginskoye oilfield, a representative of Natural Resources and Environment Ministry quoted Minister Sergei Donskoi as saying on Friday.

“All contenders followed the procedure and transferred a down payment in the amount of the starting payment to the Federal Mineral Resources Agency,” the representative told reporters, adding that Yugorskaya Neft, an affiliate of Independent Petroleum Company, has not made the down payment.

“A decision to allow them to participate will be made on July 3 on the basis of analysis of application materials, which have not been opened yet,” the person said.

The auction will take place on July 12 with a starting payment standing at 7.4 billion rubles. The field’s recoverable oil reserves amount to 18.842 million tonnes under the C1 category and to 83.877 million tonnes under the C2 category.

(57.4437 rubles – U.S. $1)

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