Wednesday, February 20, 2008
Nenets bounty on the block
05 February 2008 - Upstream OnLine - Russia's Federal Agency for Sub-soil Resources, Rosnedra, has put four blocks in the Nenets Autonomous Region up to tender, according to reports. Russian newspaper Kommersant said the blocks hold an estimated 80 million tonnes of oil and will be offered on 25-year licences. The four blocks contain 13 oil deposits with total category C1 reserves of almost 80 million tonnes, it added. The deadline for lodging applications for the auction is 7 March.