Russian licensing activity in 2011 was low, with most auctions cancelled and limited interest in blocks for the pursuit of a geological study at the expense of licensees. However, the West Siberia and Volga-Ural regions still attract relatively high levels of interest. These regions have a high quality reserve base and are considered to be the source for future hydrocarbon production. The East Siberia and Far East regions are considered to be a base for future exploration activity.
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