February 2007

27.02.2007
Aganneftegazgeologia and ‘Russian Innovation Fuel and Energy Company’ Bought at Auction 2 Hydrocarbon Blocks at Khanty-Mansiysk Autonomous Area
Khanty-Mansiysk. February, 27. INTERFAX – OAO ‘Multibusiness Company ‘Aganneftegazgeologia’’ gains at auction the right of using the Chukhlorsk hydrocarbon block at the Nizhnevartovsk Area of the Khanty-Mansiysk Autonomous Area. The auction was held by the Areal Agency for Subsoil Use for the Khanty-Mansiysk Autonomous Area (Yugranedra) on Tuesday.

An Interfax correspondent, who attended the auction, has reported the winner offering 364 mln rubles. The initial amount of the one-time payment for the right of subsoil use for exploration and hydrocarbon production was 70 mln rubles, with a 10% bid increment against the one-time payment.

The Chukhlorsk block zone is 117.1 thousand square kilometers, C1 category recoverable reserves are 634 thousand tons of oil and C2 category recoverable reserves are 405 thousand tons of oil.

OOO ‘Burneftegas’ (Tyumen) and OOO Lukoil-Western Siberia has participated in the Chukhlorsk block auction as well.

Furthermore, the right of subsoil use for Nadezhdinsk block exploration and hydrocarbon production situated at the Surgut area of the Khanty-Mansiysk Autonomous Area was auctioned on Tuesday. OAO ‘Russian Innovation Fuel and Energy Company’ won at the auction.

The initial amount on the one-time payment was 25 mln rubles, with a 10% bid increment. The gainer company offered 137.5 mln rubles for the block.

The Nadezhdinsk block zone is 54.47 thousand square kilometers. C2 category recoverable reserves are 146 thousand tons of oil and C3 category recoverable reserves are 331 thousand tons of oil.
 
OOO ‘Surgutneftegas’ (PTC:SNGS) has participated in the Nadezhdinsk block auction as well.

Auction gainers will get the right of 25 years’ subsoil use at the blocks, including subsoil exploration for a term of up to 5 years.

OAO ‘Russian Innovation Fuel and Energy Company’ (PTC:RITK) is registered at the Kogalym town (the Tyumen region). Oil Company LUKOIL (PTC:LKOH) holds almost 65% of  Russian Innovation Fuel and Energy Company’ s shares. 
 
OAO ‘Aganneftegazgeologia’ develops 8 fields at the Khanty-Mansiysk Autonomous Area. Starting from June 2006 Oil and Gas Company ‘RussNeft’ holds the controlling share of ‘Aganneftegazgeologia’- 51% of shares.   

Source: "Interfax"