| Other Photos |
 |
|
 |
Section of Chayanda Deposit to Be Sold
The Federal Mineral Resources Agency (Rosnedra) has decided to sell the oil leg of the Chayanda deposit, with reserves of 50 million tons, at the beginning of next year. The form of sale has not been determined yet. Sources say Gazprom has agreed to the sale so that oil production at the deposit can be begun before gas production starts. The deposit holds reserves of 1.2 trillion cu. m. of natural gas. Gazprom has previously opposed the sale of the oil deposit.
Gazprom had not comment on the change of plans yesterday. Russian oil companies were also tight-lipped in respect to it. “The decision on participating will depend on the financial expedience of such an acquisition,” a Gazprom Neft spokesman said. Since the deposit is considered strategic, foreign companies can only participate in the production there in conjunction with a Russian company.
Observers note the poor infrastructure in the region of the deposit and its distance from other assets. Mikhail Shein of BrokerCreditService estimated the oil leg of the deposit to be worth $250 million.
www.kommersant.com
All the Article in Russian as of Oct. 15, 2007
|
|
|
