Far East | Materials, extraction

$1.7bn set as start for East Talakan tender

3 Feb '09
Results of a tender for a 20-year license to develop the East Talakan oil and gas field in Yakutia will be announced on May 14, Russias Federal Agency for Use of Natural Resources (Rosnedra) unveiled today.

Under tender terms, a starting price and downpayment for the site are set at $1.7bn.

East Talakan covers 503.6 square-kilometers and has C1 oil reserves of 4.75 million tons and C2 reserves of 5.15 million tons; it also has C1 natural gas reserves of 10.43 billion cubic-meters and C2 reserves of 12.46 billion cubic-meter. The East Siberia the Pacific pipeline runs through the field.

Main bidders are expected to be Surgutneftegaz and Gazprom, RIA Novosti reported today.

Downpayment is expected through March 4; bids are accepted through April 9, the news agency said.
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