No applications received in auction on Voskhod oil and gas field in Dagestan
ROSTOV-ON-DON. June 30 (Interfax) - No applications to bid in a July 15 auction on rights to the Voskhod oil and gas field in Dagestan have been received. The application deadline was June 24, the Dagestan subsurface resource agency told Interfax.
The starting price in the auction is 3.7 million rubles and the bidding increment is 10% of the starting price.
Voskhod has been in development since 1971. The field covers 2.21 square kilometers. The Yuzhnosukhokumsk-Neftesukhokumsk pipeline passes within 5 kilometers off the field. Ten wells were drilled at the field in 1965-1989. Rosneft-Dagneft previously operated the field, but it lost the license in 2007 after failing to meet the terms of the licensing agreement. The resource at the field amounts to 73,000 tonnes of C1 oil reserves and 9,000 tonnes of C1 condensate.