Russia Seeks Bids for Arctic Gas Field: Press
Russia is planning to auction off rights to a large gas and condensate field on the eastern shore of Yamal Peninsula, Russia’s Kommersant reported on August 29, citing sources.
A contest will take place this year for a licence to the Khambateyskoye deposit, assessed to hold 34bn m3 of gas and 2.6mn mt of condensate in Russian-category reserves, the newspaper claimed. The starting price for bidding will be set at more than rubles 1.8bn ($27mn).
Discovered in 1987, Khambateyskoye lies 60-65 km north from Gazprom Neft’s Novoport site, one of Russia’s largest oil and gas projects within the Arctic circle. This makes Gazprom Neft a likely candidate to obtain the field. The company recently expanded its Arctic portion by securing licences for acreage on the unexplored Taimyr Peninsula.