Surgutneftegaz OAO Buys Two Hydrocarbon Sections In Yakutia-Interfax

Interfax reported that Surgutneftegaz OAO was declared the winner of a subsoil use auction for two hydrocarbon sections in Yakutia, offering RUB 866.1 million total for the assets, Director of the Yakutia Bureau for Subsoil Use (Yakutnedra) Mr. Gennady Naumov told Interfax. Surgutneftegaz OAO paid RUB 653.6 million (the starting one-off payment) for the Vilyuysko-Dzherbinsky section, and it shelled out RUB 212.5 million for the Srednevilyuchansky section (the starting price was RUB 62.5 million ). As of last year, the State Reserves Commission had confirmed reserves and projected resources at the Vilyuysko-Dzherbinsky section at 18.984 billion cubic meters (bcm) of gas (C1), 16.431 bcm of gas (C2) and 14 bcm of gas (D2). At the Srednevilyuchansky section, reserves and resources include 9.8 million tons of oil (D1 - recoverable), 46.5 bcm of gas (C3) and 113.8 bcm of gas (D1). Reserves and resources at the Iktekhsky section are 6.248 million tons of oil (C2 - recoverable), 3.24 million tons of oil (D1), 7.423 bcm of gas (C1), 11 bcm of gas (D1), 147,000 tons of condensate (C1) and 248,000 tons of condensate (C2). Finally, the Khotogo-Murbaysky section's reserves and resources include 1 bcm of gas (C1) and 9.6 bcm of gas (C2). Altogether, 14 bids were made at the auction.