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Russia’s Rosneft announces $19 million seismic exploration tender

December 05, 2014, 13:44 UTC+3 MAGADAN

Bids will be collected until December 24 and the results will be announced on March 4, 2015

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© AP Photo/Mikhail Metzel

MAGADAN, December 5. /TASS/. Russian state-owned oil major Rosneft has announced a $19 million tender for 3D seismic exploration works at the Magadan-3 site on the country’s Far Eastern shelf, the Magadan Region government said in a statement referring to region’s head Vladimir Pechyony.

“The tender’s size is over $19 million. Seismic exploration will be carried out within a 1,200 square meter area. According to tender documents, the works must be done by July 2015,” the government quoted Pechyony as saying.

Bids will be collected until December 24; the tender’s results will be announced on March 4, 2015.

In May 2013, Rosneft signed a cooperation agreement with Japan’s Inpex for the development of the Magadan-2 and Magadan-3 sites. The joint forecasted reserves of three Magadan sites stand at 1.414 billion tons of oil and condensate and 1.758 trillion cubic meters of gas.

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