Site Navigation   OGI Homepage World Industry News Exploration & Discoveries Drilling & Completion Development & Production Licensing & Concessions Geosciences LNG/LPG Health Safety Environment Company News Special Features Technical Reports Regional Spotlight Oil/Gas Prices & Analysis New Products & Services Industry Calendar Industry Book Reviews Industry Associations Industry Links Search Archives   Licensing & Concessions Trebsa & Titova Fields on the block at about $2 billion plus (7/22/2010 - OGI: Moscow) Russia's Ministry of Natural Resources is proceeding with the licensing of two strategic oilfields said to be the last major undeveloped oilfields left in Russia. The Ministry advised today via a report in the Moscow Times that it will entertain offers over US$2 billion for the licenses for the Anton Titova Field, with 408.8 million bbl of oil, and the Roman Trebsa Field, with 585.5 million bbl of oil in the Timan-Pechora region of the Nenets Autonomous Okrug. An appraisal of the two fields was commissioned last month by the deputy prime minister, Igor Sechin and three independent appraisers returned with evaluations ranging from about $753.6 million to $3.34 billion. The Ministry of Natural Resources, however, is holding out for around $3 billion but said it would consider offers for less. Because the two fields are classified as strategic, foreign companies are disallowed to bid and the contest looks to be between Russia's majors Rosneft, GazpromNeft, and Lukoil. Click here for earlier report. OGI Homepage I Contact Us