RussNeft Won by Auction Right to Develop Salymsky-1 in KhMAO.

Aki-Otyr OAO controlled by RussNeft of Mikhail Gutseriev has won by auction the right to develop the Salymsky-1 site in Khanty-Mansiysk Autonomous Okrug. The information was conveyed by AK&M with reference to Igor Bakai, the head of KhMAO’s Subsoil Use Territorial Agency.
The company has paid 1.14 billion rubles for an upstream license. As stated by Bakai, potential resources of the site are estimated as equal to 36-37 million tons of crude oil.
RussNeft has recently acquired a number of assets with total recoverable reserves more than 50 million tons’ Specifically, they are Volganeft, Penzaneft, Udmurt National Company, Mokhtikneft, Benodet Investments, as well as the Tomsk group of companies including the Sobolinoye, Fedyushkinsloye, Grushevoye, Stolbovoye, Poselkovoye and Duklinskoye. It is in the plans of the company to raise the oil output by 50% against 2004 bringing it to 15 million tons against the 10 million tons of last year.