The Federal Subsoil Resources Management Agency said on Thursday that auctions for the development of two oil and gas deposits in central Russia have failed due to the lack of bids. The agency has auctioned the Medveditsko-Karamyshskoye and Perelyubsko-Rubezhinskoye fields in the Saratov region getting only one bid for the Perelyubsko-Rubezhinskoye field, it said in a statement. The initial payment for the Medveditsko-Karamyshskoye field amounts to 207 million rubles ($6.65 million). Oil and gas resources total 11.918 million metric tons and 17.439 billion cubic meters respectively.
The initial payment for the Perelyubsko-Rubezhinskoye field is around 20 million rubles ($646,000). Oil and gas resources total 1.6 million tons and 13.4 bcm respectively, while oil and gas condensate resources amount to 4.7 million tons.
