Posted by: russiaoilandgas | August 23, 2007

Russian Min Lists 97 Resources Fields for Prelim Exploration

Oil Gas Russia Siberia Exploration HydrocarbonsRussia’s Ministry of Natural Resources Monday said it had earmarked 97 mineral resources fields in western and eastern Siberia to be offered for preliminary exploration.

The list includes 38 hydrocarbon fields, with estimated reserves of around 100 million metric tons of oil and 500 billion cubic meters of gas.

There are also 55 fields with diamond and gold reserves of 40 million carats and more than 400 tons respectively.

Companies interested must apply to the Federal Subsoil Agency, Rosnedra, the ministry said.

Under current legislation, if a company is successful in preliminary exploration at a particular field, it can automatically obtain a license for further exploration, the news agency RIA-Novosti reported.


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