Udmurtneft has won the auction by Kiengopsky license site

​The drilling of first wells is planned for 2017.

Udmurtneft (JV of Rosneft and Sinopec) has gained the right to develop and extract hydrocarbons at the Kiengopsky license site. The recoverable resources of this site exceed 3.5 mln tons of oil.

The Kiengopsky license site with the area of 52.4 sq km is located not far from the Chutyrko-Kiengopsky oil and gas deposit of Udmurtneft that has a developed infrastructure. An oil pipeline and a power transmission line are located near the site.

The use of the existing infrastructure will allow to have a synergy effect and accelerate the period of the site’s development.

Udmurtneft develops deposits in 14 districts of the region, has 58 licenses for oil and dissolved gas extraction at 26 deposits, 5 licenses for geological study, exploration and hydrocarbons extraction, a license for geological study aiming for search and assessment of hydrocarbons. The annual extraction of the company is about 6.4 mln tons of oil.