CGC Holding secures license for tight oil and gas technology field trials in Yamal

MOSCOW. Aug 9 (Interfax) - JSC NK Tekhneftinvest, a division of CGC Holding, has secure a license to create a testing ground for the development of technology to explore for and extract hard-to-recover oil and gas reserves at the Dremuchy block in the Yamalo-Nenets Autonomous District.

The resource rights are valid until the end of 2050, materials in the state registry of mineral resource properties and licenses said.

Technology testing sites for development of hard-to-recover reserves were introduced as a new form of licensing in the spring of 2021. Such sites can be set up at Bazhenov, Abalak, Khadum, Domanik and Achimov suites and deposits of super-viscous oil.

Another CGC Holding subsidiary, Stavropolneftegaz earlier received licenses to set up technology testing sites at the Ozek-Suatsky, Achikulaksky, Praskoveisky, Yuzhno-Ostrogorsky and Lesnoi blocks in Stavropol Territory.

These types of licenses are also held by major oil companies Gazprom Neft (two in the Khanty Mansi Autonomous District), Rosneft (two in Samara Region) and Tatneft (one in Tatarstan).

NK Tekhneftinvest, which is registered in Moscow, produces oil in the Yamalo-Nenets Autonomous District and holds licenses to the Tsentralno-Tarkosalinsky and Palnikovsky blocks. The management company, Centergeco LLC is controlled by St. Petersburg businesswoman Olga Nekrasova with 69% and Moscow businessman Dmitry Kamishev with 30%.