Urals Energy Returns Sakhalin License

摘要

Russian independent Urals Energy has lost another asset after its subsidiary, Petrosakh, decided to relinquish the Pogranichny Block in the Sakhalin-6 zone offshore Sakhalin Island. According to the Rosnedra sub-soil agency of the Natural Resources Ministry, the license for the block expired last month and the 1,400 b/d Petrosakh unit decided against extending it. Under Russian legislation, the block will be returned to the country’s undistributed fund of properties.