Volga Gas Completes Urozhainoy-2 License Acquisition

Volga Gas completed the final payment for the Urozhainoye-2 license area, which covers 354 square kilometers and is located about 15 kilometers north of the Karpenskiy license area.

Urozhainoye-2 is expected to hold up to 30 gas, condensate and oil fields.

Volga won the government-mandated auction with a bid of RUR44 million (US$1.7 million) on September 7, 2007.

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