Actuality November, 1, 2007

The French company “Eurotek Ltd co.” will extract oil and gas at the Yamal.

As it was reported today in the territorial agency on subsurface management on the Yamalo-Nenets Autonomous District (YNAD), the company has won the auction on the right to use the reserves of Zapadno-Kaminnomiskiy and Ladertoyskiy  hydrocarbonic areas.

The reserves of Zapadno-Kaminnomiskiy area, as evaluated by specialists, make 9 million tons of oil, 24 billions of cubic gas meters,

3 million tons of gas condensate.

The extracted reserves of hydrocarbon

of Ladertoyskiy area make 2,7 million tons of oil, 2, 915 billions of cubic gas meters.

The winner is given the right to use the bowels of areas with the purpose of geological exploration, prospecting and extraction of hydrocarbon raw material for a term of 25 years, including the

geological exploration of bowels within 5 years.

At a starting price in RUR 70 million for Zapadno-Kaminnomiskiy licensed area, “Eurotek Ltd co.” offered RUR 2,079 billions ($83,16 millions). Ladertoyskiy hydrocarbon area was purchased for RUR 82,5 million.

In auction took part also “Surgutneftegaz”, “Yamuburggazdobycha”, “Ovit” and “Transnafta”.