Russian ruler to auction 2 oil, gas fields on December 5

MOSCOW, Oct 10 (PRIME) -- The Federal Mineral Resources Agency will hold an auction for two hydrocarbon fields in the Saratov Region, the Stepnovsky and Yuzhno-Dergachyovsky, on December 5 with a starting price of 400 million rubles each, the authority said in a statement on Wednesday.

Bids will be accepted until November 12.

The recoverable oil reserves of Yuzhno-Dergachyovsky are estimated at 4.88 million tonnes under the Russian D category. Oil resources amount to 60 million tonnes under D2 and gas to 116.5 billion cubic meters (bcm).

The Stepnovsky’s recoverable oil reserves are seen at 120,000 tonnes C1, 8.479 million tonnes under D, 14.6 million tonnes under D1; gas reserves at 671 million cubic meters under C1, 327 million cubic meters C2, 748 million cubic meters D and 5.9 bcm D1.

(66.4032 rubles – U.S. $1)

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