Deputy PM recalled that the Exxon-Mobil and Texaco companies won in the 1993 competition. But the then competition entailed no legal implications and none of them got the right to develop the fields, the deputy PM specified. Asked by journalists, Khristenko said that Sakhalin-3 set of fields will only be auctioned when required by the program of their licensing. With regards to expenses incurred by the companies in the competition held ten years ago, Khristenko said that exact amounts will be checked and offered as a term for the auction participants. According to the Exxon-Mobil Co., it spent about $80 million in the 1993 competition.
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Exploration Rights Nullified
Russian government continues to tighten grip over oil sector...
A governmental commission for realizing production sharing agreements has nullified the results of a 1993 competition for development of Sakhalin-3 oil fields, Deputy PM Viktor Khristenko told reporters.
The commission concluded that there were no grounds for the issue of licenses for the set of oil fields on either the production sharing or usual taxation terms, which means that the fields can be tapped according to the generally recognized scheme on the auction basis in case a development-expediency decision has been taken.
Deputy PM recalled that the Exxon-Mobil and Texaco companies won in the 1993 competition. But the then competition entailed no legal implications and none of them got the right to develop the fields, the deputy PM specified. Asked by journalists, Khristenko said that Sakhalin-3 set of fields will only be auctioned when required by the program of their licensing. With regards to expenses incurred by the companies in the competition held ten years ago, Khristenko said that exact amounts will be checked and offered as a term for the auction participants. According to the Exxon-Mobil Co., it spent about $80 million in the 1993 competition.
Deputy PM recalled that the Exxon-Mobil and Texaco companies won in the 1993 competition. But the then competition entailed no legal implications and none of them got the right to develop the fields, the deputy PM specified. Asked by journalists, Khristenko said that Sakhalin-3 set of fields will only be auctioned when required by the program of their licensing. With regards to expenses incurred by the companies in the competition held ten years ago, Khristenko said that exact amounts will be checked and offered as a term for the auction participants. According to the Exxon-Mobil Co., it spent about $80 million in the 1993 competition.
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