TNK-BP and Surgutneftegaz win oil licenses in Russia’s far north

Oct 19, 2006 02:00 AM

Anglo-Russian oil producer TNK-BP Holding and Russian oil company Surgutneftegaz won tenders for licenses in Russia's far north worth for a total of about 1.2 bn roubles ($ 43 mm), according to local officials in Russia's Krasnoyarsk region.
TNK-BP, which is half-owned by BP, paid RUB 879 mm for licenses to develop three blocks known as Taykinsky, Gorchinsky and Vostochno-Pendomaykh. Surgutneftegaz paid RUB 280 mm for a license for the Studeny block.

Russian state-run oil and gas company Rosneft and two regional companies also bid but were shut out by TNK-BP and Surgut, the agency said.
The fields, located on the Taimyr Peninsula in the northern Krasnoyarsk, have combined estimated reserves of 92.7 mm tons of oil and 60.5 bn cm of natural gas. The agency didn't break down the reserves by field.

Source: Dow Jones Newswires