Details are slowly emerging on first time availability of Soviet exploration and production tracts for competitive bidding by non-Soviets.
The Soviets will accept bids for defined exploration or producing areas in the Turkmen S.S.R. and provide the bidder, if successful, exclusive rights to operate under set terms that conform with Soviet joint venture law.
Successful bidders will then sign joint venture/operating agreements with appropriate Soviet agencies.
A large Soviet delegation will attend a meeting Jan. 30, 1991, in Houston to present preliminary tracts, terms, and conditions (OGJ, Nov. 19, Newsletter).
Next will come publication of a detailed list defining the tracts available for bid, describing terms and conditions, and setting a sealed bid deadline.
Confirmation of winning bids is expected shortly after bid opening.
The first two areas up for bids are the Yashlar sector in Amu-Daria Province and the West Turkmenian sector in South Caspian Province.
A second round a few months later will include tracts in the Tedzhen and Badkhyz areas of Amu-Daria (see map, OGJ, Sept. 3, p. 38).
Exploration tract size probably will 25-100 sq km, or 6,000-25,000 acres, said Edward Gendelman, president of Wavetech Geophysical Inc., Denver.
Planning to attend the meeting are G.A. Gabrielyants, minister of geology of the U.S.S.R.; B.A. Nikitin, first deputy minister of oil and gas industry; and about eight other top officials of the Komi and Turkmen republics, regional production associations, and industry related organizations.
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