12 Nov 2012 15:47

Rosnedra striking Rosneft's license for East Lodochnoye field from register

MOSCOW. Nov 12 (Interfax) - The Russian Federal Subsurface Resources Agency (Rosnedra) is striking Rosneft's license for the East Lodochnoye field off the register, according to the regulator's materials.

Rosnedra is transferring the license to the Russian Geological Fund because it has expired, the agency explained.

Rosneft has already surrendered its licenses for five of 14 sections in direct proximity to Vankor due to their lack of prospects. Projected recoverable resources at the remaining nine sections (West Lodochny, East Lodochny, Samoyedsky, Baikalovsky, Protochny, Vadinsky, Tukolandsky, Pendomayakhsky and North Charsky) are estimated at 343 million tonnes of oil and 126 billion cubic meters of gas.