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Lukoil may bid for development of Erginskoye oil field

May 24, 21:10 UTC+3 VIENNA

Russian Minister of Natural Resources Sergey Donskoy said that Russia’s oil major Rosneft had applied for participation in the auction for Erginskoye oil field

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VIENNA, May 24. /TASS/. Russian oil major Lukoil may bid for license to develop the Erginskoye oil field, head of the company Vagit Alekperov told journalists.

"We are considering it. So far we don’t (do not apply - TASS.)," he said.

Earlier this month, Russian Minister of Natural Resources and Environment Sergey Donskoy said that Russia’s oil major Rosneft had applied for participation in the auction for Erginskoye oil field.

The auction for the oil field in the Khanty-Mansiysk Autonomous region will be held on July 12, the starting price is 7.4 bln rubles ($128.64 mln). Applications for participation in the auction are accepted until June 16. Before this date, the applicant must transfer the deposit for participation in the amount of 130,000 rubles ($2,259).

The oil reserves of C1 + C2 category of the Erginskoye field amount to 103 mln tonnes. The area which will be auctioned is 762.8 square km.

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