Udmurt Oil Company to Develop Zolotaryovskoye Oilfield in Kirov Region

According to the statement made by the press-service of the Kirov region’s administration, the news was reported by Vitally Perestoronin heading the local environmental protection and natural resources management service.
Udmurt Oil Company paid RUR120 million against RUR100 million opening hours price. 12 companies altogether applied for participation in the auction which was held on February 9 in accordance with the decision of Rosnedra. Five of the applicants rank among the oil majors of Russia.
At the press-center they also reminded that it was the third auction for the right to develop the Zolotaryovskoye oilfield. In 2005 the auction was announced two times. But according to the auction terms, along with the Zolotaryovskoye oilfield the license area offered for sale included a vast field requiring serious explorations and appropriately high financial and time expenditures. With the only applicant in both cases the auctions were never held. This year they put up for auction only that subsoil area which included the Zolotaryovskoye oilfield.
According to Perestoronin, the development of the Zolotaryovskoye oilfield will become the basis for developing oil and gas exploration in the east of the Kirov region.
“Over the territory of the Omutninsky and Afanasievsky districts of the oblast there are some more small oilfields and a number of areas showing promise of crude oil which can become a source of enhancing the oil production by the subsoil user,” explained he.
The Zolotaryovskoye oilfield is situated on the territory of the Omutninsky district of the Kirov oblast and Glazovsky district of Udmurtia. Presently it’s the biggest explored oilfield throughout the region with reserves exceeding 20 million tons.
The study of the oilfield was started as far back as the 1960s of the past century and completed in the 80s.  The development has been conducted since 1993 but only on the side of the Kirov region. At the oilfield six exploratory wells were drilled and the first crude was produced in 1995.