Auctions called off for five Rostov Region oil and gas licenses
ROSTOV. Dec 3 (Interfax) - The auctions for the rights to explore for and extract oil and gas at the Bolshinsky, Grekovsky, Kurnolipovsky, Glubokinsky and Gusevsky blocks in the Rostov Region will be called off because there are no bidders, a spokesman for the natural resources department for the Southern Federal District told Interfax.
"Not a single application was submitted to participate in any of the five auctions, so they will be declared void," he said.
The auctions for these blocks were scheduled for December 21.
The starting prices and bidding increments were set at 97.5 million rubles and 9.75 million rubles respectively for Bolshinsky; 229.5 million rubles and 22.95 million rubles for Grekovsky; 51.1 million rubles and 5.11 million rubles for Kurnolipovsky; 42.8 million rubles and 4.28 million rubles for Glubokinsky; and 100,000 rubles and 10 rubles for Gusevsky. There was no fee for participation in the auctions and the deadline for applications was November 30.
The 856.1-square-km Bolshinsky block has D1 category resources of 2.5 million tonnes of oil and 5 billion cubic meters of gas, and C3 resources of respectively 7.926 million tonnes and 14.784 bcm.
Grekovsky, with an area of 1,040.5 square km, has C3 resources of 21.407 million tonnes of oil and 14.324 bcm of gas.
The 493.7-square-km Kurnolipovsky block has D1 category resources of 2 million tonnes of oil and 4 bcm of gas, and C3 resources of respectively 3.184 million tonnes and 11.546 bcm.
The 313.9-square-km Glubokinsky block has D1 category resources of 0.2 million tonnes of oil and 0.363 bcm of gas, and C3 resources of respectively 0.995 million tonnes and 2.755 bcm.
The 29.7-square-km Gusevsky block has D1 category resources of 0.054 bcm of gas.