JSC Gazprom Neft won the auction for the rights of subsoil use at the Yuzhno-Toraveiskyi area in the Nenets Autonomous District covering exploration and production of hydrocarbons for a period of 25 years and including geological prospecting for a period of up to 5 years.
The area’s recoverable reserves are estimated at 12.3 million tons of crude oil of C1 and C2 categories and 343 million cub. m of natural gas.
The OOIP (original oil in place) value totals 60 million tons of hydrocarbons.
The area’s territory totals 41.1 sq. km.