Yukos and Benodet pronounced winners of auction

Nov 29, 2000 01:00 AM

Yukos and Benodet Investments (Cyprus) were pronounced the winners of an auction to sell licenses for the development of oil and gas sections in the Tomsk region. Yukos bought licenses for the Severo-Pudinsky and Kul-Egansky sections for $ 18.16 mm (21.6 mm euros), and Benodet bought the Yuzhno-Pudinsky, Somovsky and Soboliny sections for $ 23.9 mm (28.4 mm euros).
The total starting price of all five sections was exceeded by 4.5 times. Reserves of sections are as follows: Soboliny, 6.15 mm tons of oil; Yuzhno-Pudinsky, 5.15 mm tons of oil and 192 mm cm of gas; Severo-Pudinsky, 16.5 mm tons of oil, 38.6 bn cm of gas and 6.4 mm tons of gas condensate; Somovsky, 6.2 mm tons of oil; and Kul-Egansky, 3.2 mm tons of oil. Yukos extracted 40.7 mm tons of oil in the first 10 months of 2000, a 10.3 % rise from the corresponding figure for 1999.

Source: Neftegazovaya vertikal via NewsBase
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