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. Last Updated: 07/27/2016

Rosneft to Bid for More Yukos Assets

Rosneft will bid at one of the last auctions for assets of bankrupt firm Yukos on Thursday, preparing to pay over $200 million for assets, which may help it secure large oil reserves.

"We have submitted a bid for tomorrow's auction," a Rosneft spokesman said Wednesday. He declined further comment.

The lot includes property rights and equipment at 10 large oil and gas fields in eastern and western Siberia and has a starting price of 5.73 billion rubles ($223.4 million).

The lot does not include licensing rights as by law their sale is not allowed, but industry sources said the ultimate winner of the equipment would facilitate its chances to gain licensing rights for the fields.

Thursday's lot includes equipment at fields such as East Salym, Tersk-Komovsk and Sredne-Balyksk, which industry experts say may contain hundreds of millions of barrels in probable and possible reserves.