At auctions for the right to conduct geological exploration, prospecting and production of hydrocarbons held today by the Department of Subsoil Use of the Volga Federal District (Privolzhsknedra), Bashneft has won the rights to the Vostochno-Khasanovskiy, Kayumovskiy, Izumrudniy, Kvartseviy and Yangurchinskiy subsoil areas. Other participants of the auctions included OJSC Rosneft and LLC IPC-SaratovNeftegazdobycha.

‘Acquisition of new licence areas is consistent with the goals of our long-term strategy aimed at developing the resource base, building up reserves and maintaining a steady output at brownfields in the Company’s key operating region, the Republic of Bashkortostan,’ emphasized Mikhail Stavskiy, Bashneft’s First Vice President for Upstream.

The Yangurchinskiy subsoil area has an area of 474.9 sq. km and is situated in the south of Bashkortostan, in the western part of the Sterlibashevsky District and the southern part of the Miyakinsky District. The subsoil area includes the Yangurchinskoye oilfield and neighbours the Islamgulovskoye field developed by Bashneft and the Goncharovskoye field, which has not been allocated yet. The Yangurchinskiy subsoil area contains two prepared formations with C1 recoverable oil resources totalling 450 thousand tonnes. D1 inferred resources at the area are estimated at 3.3 million tonnes, while D1L resources are estimated at 0.3 million tonnes. Bashneft will make a one-time payment of 21 million roubles for the Yangurchinskiy area.

The Kayumovskiy subsoil area has an area of 418.5 sq. km and is situated in the Askinsky District in the north of Bashkortostan. The area borders the Kayumovskoye, Kalyanovskoye and Kazanchinskoye oilfields developed by Bashneft and the Severo-Kalyanovskoye field, which has not been allocated yet. The area includes the Novo-Kazanchinskoye gas field, which has not been allocated either. According to Privolzhsknedra, the Kayumovskiy subsoil area contains eight prepared formations with C3 recoverable resources totalling 2.1 million tonnes; D1L inferred resources at the area total 0.6 million tonnes. Bashneft will make a one-time payment of 18.5 million roubles for the Kayumovskiy area.

The Izumrudniy subsoil area has an area of 440.6 sq. km and is situated in the Bizhbulyaksky and Miyakinsky Districts in the south of Bashkortostan. The subsoil area includes the Sataevskoye, Islamgulovskoye and Demskoye fields developed by Bashneft and the Aznaevskoye field, which has not been allocated yet. According to Privolzhsknedra, the Izumrudniy subsoil area contains six prepared formations with C3 recoverable resources totalling 0.8 million tonnes; D1 inferred resources at the area are estimated at 2 million tonnes, while D1L resources are estimated at 0.2 million tonnes. Bashneft will make a one-time payment of 14.3 million roubles for the Izumrudniy area.

The Kvartseviy subsoil area has an area of 286.2 sq. km and is situated in the Miyakinsky District in the south of Bashkortostan. The subsoil area includes the Kacheganovskoye and Orlovskoye oilfields developed by Bashneft. According to Privolzhsknedra, the Kvartseviy subsoil area contains one formation prepared for prospecting for Lower Permian deposits; C3 recoverable oil resources at the area total 20 thousand tonnes. D1 inferred oil resources amount to 2.5 million tonnes, while D1L resources total 0.1 million tonnes. Bashneft will make a one-time payment of 2.4 million roubles for the Kvartseviy area.

The Vostochno-Khasanovskiy subsoil area has an area of 174.2 sq. km and is situated in the west of the Bakalinsky District, near the border with the Republic of Tatarstan. The subsoil area neighbours the Kalaevskoye, Mustafinskoye and Ardatovskoye oilfields developed by Bashneft. According to Privolzhsknedra, D1 inferred oil resources at the Vostochno-Khasanovskiy area total 1.9 million tonnes, while D1L resources amount to 0.3 million tonnes. Bashneft will make a one-time payment of 2.3 million roubles for the Vostochno-Khasanovskiy area.