10 Nov 2010 13:00

Resources agency to analyze Bashneft's Trebs-Titov bid by Nov 25

ST. PETERSBURG. Nov 10 (Interfax) - The Russian Federal Subsurface Resources Agency (Rosnedra) will analyze Bashneft's bid for the license to the Trebs-Titov oil fields by November 25, the agency's chief, Anatoly Ledovskikh, told Interfax.

"We haven't yet analyzed it, but it will be analyzed by around November 25. We have to analyze all the data, and then get the tender commission together. The commission should conclude, on the basis of all the data, that the bid complies with the terms of the tender, that it is a good bid and that the bidder ought to receive the license," Ledovskikh said.

Rosnedra plans to announce the tender results on December 2. Bashneft is one of two companies admitted to the tender. The other was Surgutneftegas . Bashneft paid the deposit of 18.171 billion rubles required to bid at the tender, but Surgutneftegas did not and was eliminated.

Six companies registered to bid and paid the tender fee by the September 20 deadline. The six were Lukoil subsidiary Lukoil-Komi LLC; Bashneft; TNK-BP subsidiary OJSC Samotlorneftegas; Surgutneftegas; Gazprom Neft ; and Nord Imperial LLC, which is part of India's ONGC group.

Many of the companies that applied to bid at the tender for the rights to the big Trebs-Titov oil fields were disqualified for not submitting sufficient data about contractors, human resources and technology, and verified financial audits, according to the minutes of a meeting of the tender commission on September 27.

Russian Natural Resources Minister Yury Trutnev has said the fact that only one bidder remained did not serve as grounds to halt the allocation of a mineral deposit. "The tender will be declared null and void, but the license can still be issued to the mineral developer if the bid is considered to be a good one," he said.

The combined recoverable resource in the Trebs-Titov fields, which are in the Nenets Autonomous District, amounts to 89.73 million tonnes of C1 reserves, 50.33 million tonnes of C2 and 59.29 million tonnes of C3. D1 forecast reserves total 70 million tonnes.

Tenderers must have the capability to refine at least 42% of the hydrocarbons to be produced and to sell at least 15% of the petroleum products on the commodities exchanges in Russia.