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Company in Mass Media

Surgutneftegaz gets North-Liginsky, Polyarnoye Siyanie – West-Kolvinsky subsoil blocks, NAO

06.12.2016. http://neftegaz.ru/news/view/156346-Surgutneftegaz-poluchil-Severo-Liginskiy-a-Polyarnoe-siyanie-Zapadno-Kolvinskiy-uchastki-nedr-v-NAO

SevZapNedra (Subsoil Use Department for North-West Federal District) has wrapped up the auction for West-Kolvinsky and North-Liginsky subsoil block in Nenets Autonomous Okrug (NAO), Governor’s press service reported on 6 December 2016.

North-Liginsky subsoil block was awarded to Surgutneftegaz, which shelled out 141 million rubles for the license. Surgutneftegaz competed for this block against Zarubezhneft-Dobycha Samara. Surgutneftegaz has long been trying to expand its presence in Nenets Autonomous Okrug, considering Timano-Pechora as the most promising region for development.

North-Liginsky subsoil block is located 250 km North-East of Naryan-mar, covering the area of 714.0 km2. The area comes with 5 local structures preparing for drilling. Russian National Research Institute for Oil Geology (FBU VNIGNI) estimates oil resources at the licensing block to amount to 12.5 million tons, in different stages of exploration.

Polyarnoe Siyanie won the auction for West-Kolvinsky block, at the cost of 18 million rubles, for which it competed against Infrastructure and Production Management Company. This is a highly valuable asset for Polyarnoe Siyanie, and the company used every effort to get it.

The reason is West-Kolvinsky subsoil block (total area of 1,806.2 km2) is located 230 km South of Naryan-mar, its Western border being 30 km East of Ardalinskoye deposit, also operated by Polyarnoe Siyanie. VNIGNI estimates the total oil reserves in different categories at West-Kolvinsky block at 24.5 million tons.

Auction winners will be licensed to survey, prospect and extract hydrocarbon resources within the respective subsoil blocks for 25 years. Of this time span, 7 years is allocated for geological surveying.

13.1 million tons of oil was produced in NAO in the first ten months of 2016, which represents an 8.4% increase compared to the same period in 2015.

Annual production target of 16.345 million tons of oil was met 80.5% by the end of October 2016.