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Alliance Oil Wins E&P License in Timano-Pechora

Source: www.gulfoilandgas.com 12/19/2012, Location: Asia

Alliance Oil won the auction for the Alfinski exploration and production license. The Company will pay approximately MUSD 0.5 for the license to be awarded by the Russian Federal Agency Rosnedra.

The Alfinski license block is located in the Timano-Pechora region in Northern Russia close to the Company’s existing operations and covers an area of about 154.5 square kilometers.

The license block’s resources are estimated at approximately 61.1 million barrels of oil (8.4 million tons) under Russian reserve classification (D1+D2).

“We continue to build up the Company’s resource base in Timano-Pechora. In this region, the Company has developed significant experience and infrastructure to support further growth in coming years” says Arsen Idrisov, Managing Director of Alliance Oil Company Ltd.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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