Bashneft, Lukoil win Nenets blocks

摘要

Lukoil and Bashneft, respectively Russia's second and eight largest oil producers, won auctions held February 21 by Rosnedra for three blocks in Russia's Nenets Autonomous Okrug. Bashneft acquired two licence areas - Yangareisky and Sabrigansky - in the northern Nenets region, the regional Department of Natural Resources said in a statement. The Yangareisky field, which is the largest of the three fields sold, has a D1+D2 resource base of up to 26.2 million mt. Total reserves from both fields are estimated to reach 28.2 million mt, about 200 million barrels of oil representing around 6% of Bashneft's total reserves. The acquired blocks are located adjacent to Bashneft's Treb and Titov fields, thus providing room for potential synergies through joint use of infrastructure, according to analysts at Alfa Bank. Lukoil won the bid for the Verkhneyangareisky block, which has D1+D2 resources in place that are estimated at 11.3 million mt, representing only 0.3% of the company's total reserves in place.