Lukoil to wrestle giants

摘要

Lukoil will bid against state-run Rosneft and Gazprom for the licence to the Layavozhskoye and Vaneivisskoye gas, oil and condensate fields in Timan- Pechora when subsoil agency Rosnedra auctions them on 15 June. Lukoil was the last of the three firms to submit a bid for the 20-year exploration and development licence, to be offered at a starting price of Rbs8.05bn ($121mn). The two fields, which hold 220bn m~3 of gas reserves and just 17mn t of recoverable crude reserves between them, will be offered as a single 761.5km2 lot of federal importance, a classification applied to acreage holding over 70mn t of crude or over 50bn m~3 of gas. The licence terms require the winner to begin production within 11 years of registering the licence.