“Commersant”. Ministry of Natural Resources of Russian Federation took a closer look at “Russneft’s” recent purchases and threatened to withdraw field development licenses.

On the yesterday’s meeting of Field License Committee of Ministry of Natural Resources of Russian Federation possible field license withdrawal notices received a number of independent oil-and-gas production companies and “Kaspoil” – “Rosneft’s” subsidiary. The largest number of notices received “Russneft”: the company was warned that because of lack of project documentation it could lose for half a year the licenses to exploration and extraction of its fields in Tomskaya oblast: Duklinskoye, Poselkovoye and Stolbovoye. Also, “Russneft” was obliged to prepare supplements to the license agreements concerning two other of its fields – Fedyushkinskoye and Grushevoye – within a month (consolidated oil reserves of these five fields, according the Ministry’s data, equal 45 million tones). The Ministry is totally dissatisfied with the licensee’s activities: during 11 years on Stolbovoye and Poselkovoye fields was extracted only 6% (approx. 3,4 million tones) from specified in license agreements.

 It should be noted that earlier all these fields were part of JSC “Tomskneftegazgeologiya” and were sold in 2003-2004 in order to clear off its tax debts. Less than a month ago “Russneft” purchased them form a group of legal and physical entities, affiliated with Maxim Korobov, member of Russian Duma (ref. to the issue dated 18.11.04). According to “Commerstant’s” information, at the yesterday’s meeting the President of “Russneft” Mikhail Gutseriev suggested that discussion of these fields’ license agreements was postponed, because “Russneft” purchased them only two weeks ago.

His suggestion, however, was not taken into consideration. The press secretary of the Ministry of Natural Resources Rinat Gizatullin told “Commersant”: “The change of license owner can not be considered as a reason for breaking the terms of license agreements. The buyer must take into account the risks of purchasing oil fields with possible license problems”. The Vice-president of “Russneft” Eduard Sarkisov said, that “as far as Fedyushkinskoye and Grushevoye fields are concerned, the company will produce the required supplements to the license agreements before the end of this year, necessary documentation on other fields will be agreed upon within specified dates – the “Russneft’s” program of fields exploitation is already approved in the company”.

Please note that, according to Mr. Gizatullin, the same problems can be faced by the buyer of the main extraction asset of “Yukos” – “Yuganskneftegaz”. Field License Committee of Ministry of Natural Resources declared on November, 9, that 21 of total 26 licensed fields have the mineral resources extraction tax debts, totaling 3,6 bln roubles, which is a serious violation of license agreements. As for the other 5 fields of the company, the specified dates of exploration were violated. Thus, all these violations will be discussed in the next year after the auction which will take place on December, 19, when shares of “Yuganskneftegaz” will be displayed for sale. And the claims will be laid to a new owner, most likely it will be “Gazprom”.

Next week, as Mr. Gizatullin said, Field License Committee will discuss field licensees of Kalmykiya.

Peter Sapozhnikov.
“Commersant”
№ 231 (№ 3070), 09.12.2004.