Russia raises starting payment for Erginskoye to 7.4 bln rbl

MOSCOW, Apr 20 (PRIME) -- The Russian government has raised the starting payment at an auction for the Erginskoye oil deposit to 7.432 billion rubles from 7.089 billion rubles, Natural Resources Minister Sergei Donskoi told reporters on Thursday.

“The starting payment amounts to 7,434 million rubles,” Donskoi said.

The Federal Mineral Resources Agency cancelled an auction for the Erginskoye deposit on April 6 in order to raise the starting payment. Bids would have been otherwise taken until May 12, while results would have been to be announced on June 7.

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.

(56.1753 rubles – U.S. $1)

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