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Bashneft

October 31, 2011

JSOC Bashneft wins third subsoil area at Nenets auction

On October 28, 2011, JSOC Bashneft took part in an auction in Naryan-Mar for the right to geological study, exploration, prospecting, and production of hydrocarbon deposits at subsoil areas in the Nenets Autonomous Okrug.

When results of competitive bidding were announced, Bashneft had won licenses for three blocks: Vostochno-Padimeisky (one-time payment of 232.5 million rubles) Savatinsky (one-time payment of 46.5 million rubles, and Nyarioyakhsky (one-time payment of 13.2 million rubles).

“We are pleased with the results of the auction,” Bashneft President Alexander Korsik remarked. “This victory corroborates the strategic character of our investments in the region where the company is also realizing a large-scale project to develop the Trebs and Titov fields.”

 

 

 

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