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Russia’s mineral resources agency cancels auction for one of most promising oilfields

April 06, 13:10 UTC+3 MOSCOW

Russia’s oil majors Rosneft, Gazprom Neft and Lukoil have taken interest in that auction

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© Dmitry Rogulin/TASS

MOSCOW, April 6. /TASS/. Russia’s Federal Agency for Mineral Resources (Rosnedra) has cancelled the decree on holding an auction for Erginskoye oilfield in the in the Khanty-Mansi Autonomous District, according to the documents released on the official website providing information about auctions.

The cancellation decree also contains a request to prepare a draft decree of the Russian government on a new auction and submit it for approval.

As reported earlier, Russia’s Natural Resources Ministry will hold an auction for the Erginskoye oil field in mid-2017.

Head of Rosnedra Evgeny Kiselev told TASS earlier that the initial payment had been increased by 1.7 bln rubles to slightly more than 7 bln rubles ($123 mln).

Russia’s oil majors Rosneft, Gazprom Neft and Lukoil have taken interest in the auction.

The Erginskoye field in the Khanty-Mansi Autonomous Area is one of the most promising. The oil reserves of C1 + C2 category amount to 103 million tonnes. The area which will be auctioned is 762.8 square kilometers.

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