9 Jan 2019 17:43

Yermak Neftegaz JV gains first subsidiary in Khanty-Mansiysk district

MOSCOW. Jan 9 (Interfax) - The Yermak Neftegaz joint venture between Rosneft and BP has become the owner of its first subsidiary.

According to SPARK-Interfax, the JV has been the sole owner of LLC Zapadno-Nikolskoye, located in the Khanty-Mansiysk Autonomous District (KMAD), since the end of December.

The press offices of Rosneft and BP did not comment on the information.

LLC TNK-BP Technologies received a license to explore and develop the Zapadno-Nikolsky block in the KMAD in 2010. The license holder changed its name to LLC Zapadno-Nikolskoye when Rosneft's RN-Holding became its owner. Rights to the block were terminated in the summer of 2015, according to the Russian Geological Fund (Rosgeolfond) register.

There were plans to offer the rights to the Zapadno-Nikolsky block at an auction in the second half of 2017, but this did not take place as those admitted to the auction did not turn up to bid Zapadno-Nikolsky's C1 oil reserves are 0.225 million tonnes, C2 - 0.365 million tonnes, D1 - 0.4 million tonnes and D2 - 0.1 million tonnes. A trunk pipeline from the Purpe to the Samotlor oil pump stations lies 9 km to the west.

Rosneft owns 51% and BP owns 49% of LLC Yermak Neftegaz. BP will allocate up to $300 million in two phases as its contribution to the cost of the JV's activities at the exploration stage, and Rosneft will contribute licenses and capacity in West Siberia and the Yenisey-Khatanga basin with initial drilling to be performed by Rosneft subsidiaries. The JV holds licenses to the Baikalovskoye, Posoisky and Verkhnekubinsky sections in the Krasnoyarsk territory and Zapadno-Yarudeisky, Kheiginsky and Anomalny blocks in the Yamalo-Nenets Autonomous District.