Perspective oil field sold
The Surgutneftegaz has secured the production license to the Madagashorskoe field in the Nenets Autonomous Okrug. The license was sold for a sum three times higher than the starting price.
Surgutneftegaz bought the license for 162 million RUB, Regnum reports. The company will now be allowed to conduct geological studies, exploration and start production on the site over a 25-year period. The 464 square kilometre area is located 180 km north of the regional capital of Naryan-Mar, and only 5-10 km from the Kharyaga oil field. An estimated 19 million tons of oil reserves are in the field.
