Russian to Hold Tender for Talakan Field

Russia plans to hold a tender in autumn for the right to develop the Talakan oil and gas condensate field in Yakutia which is located in Eastern Siberia, Russian Prime Minister Mikhail Kasyanov said.

"After the tender with respect to the Talakan field, we shall hold a tender for the development of the Chayandinsk gas field," he said. The prime minister noted that the city of Mirny 'is a good starting point for the further development of producing hydrocarbons in this region'.

Last year the Ministry of Natural Resources and the government of Yakutia held a repeat tender for the development of the central part of the Talakan deposit after the winner of the earlier tender, Sakhaneftegaz Company refused to pay the promised bonus of 500 million dollars towards the budget.

The Talakan field recoverable reserves are estimated at approximately 114 million tons of oil and more than 22 billion cubic meters of natural gas.

President of Yakutia Vyacheslav Shtyrov announced in Yakutsk earlier that the tender for the development of Chayandinsk oil and gas field that has 1.2 trillion cubic meters of gas and 50 million tons of oil would be held three months later than the Talakan tender.