Oil companies battle for deposits in Khanty Mansi Administrative District

For the first time in 2 years a serious battle erupted between the oil companies for new production projects in Russia. As a result Total has obtained 3 sites at a more than 3 times higher price than the start-up price, Rosneft had to pay by 40 times more for 2 licenses, Surgutneftegas – by 30 times for 1 site. The unexpected battle is primarily explained by the fact that the sites in the Khanty Mansi Administrative District have been put up for sale where all the large players actively work. Moreover, there are less and less “normal” projects left and companies have to compete for them, the participants of the market say, Kommersant writes.