The administration of Russia's Tomsk oblast and the province's Tomskneftegasgeologia are offering acreage in western Siberia for competitive bidding for oil and gas exploration and production.
The area includes more than 70,000 sq km that encompasses Parabeiski and Pudinski megawells in the southeast part of the western Siberian basin.
The administration said there are many oil and gas fields in the area as well as exploratory acreage. Pipelines also traverse the area.
Wavetech Geophysical Inc., Denver, and GeoInterTech, Moscow, are organizing and administering the round on behalf of the Tomsk administration.
The area tentatively is divided into about 20 blocks, each covering 2,000-6,000 sq km.
Jack Holton, Wavetech vice-president, said while western Siberia is noted for wells with low flow rates producing mainly from Jurassic sandstones, the area being offered also has high yielding, weathered Paleozoic carbonate reservoirs.
"This is a big play that will evolve rapidly," he said.
Regulations, contract terms, and commitments related to bids will be made available through a notice of offering and model agreement to be released by July 20. Tentative deadline for bids will fall in December.
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