PRESS: Rosneft asks govt to expand Erginsky cluster

MOSCOW, Dec 25 (PRIME) -- Russian oil major Rosneft has asked the government to significantly expand its Erginsky cluster that currently comprises five licensed blocks, Kommersant business daily reported Monday citing a letter of CEO Igor Sechin.

The company seeks to add the undistributed 1,000-square meter Yuzhno-Erginsky block located between the Kondinsky and Zapadno-Erginsky blocks to the cluster, the letter said.

Sechin believes Rosneft has all grounds to receive the block without a tender. He asked Prime Minister Dmitry Medvedev to order the Natural Resources and Environment Ministry and the Federal Mineral Resources Agency to consider the bid in the shortest term possible.

Sechin has estimated reserves of the Erginsky cluster at 259 million tonnes, which is expected to allow the company to produce 8.8 million tonnes of oil per year. Rosneft’s investments are estimated at 390 billion rubles.

(58.3152 rubles – U.S. $1)

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