RusEnergy

29.03.2005SKRIN News -  On March 28, 2005 Sibneft has won an open auction for the rights to develop the Salymskiy-2 and Salymskiy-3 blocks in the Khanty-Mansi Autonomous Area of western Siberia, Sibneft said in a press-release. Sibneft agreed to pay RUR200.34mln ($7.23 mln at today's exchange rate) or $0.04 per barrel for the Salymskiy-3 block, which has estimated recoverable oil resources of 23.42 mln tons. The company will pay RUR342.77mln ($12.37 mln) or $0.06 per barrel for Salymskiy-2, which has recoverable oil resources of 25.94 mln tons. Under the terms of the auction, Sibneft will receive exploration licenses for the blocks for a period of five years, with a guaranteed option to later obtain production licenses for the fields. "Sibneft is continuously seeking ways to expand its resource base," said Sibneft president Eugene Shvidler. "This process involves reviewing opportunities to participate in license auctions, as well as evaluating potential acquisitions of petroleum assets."