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. Last Updated: 07/27/2016

Bashneft Wins 2 More Blocks

Bashneft, the oil producer controlled by AFK Sistema, won an auction for two blocks in the northern Nenets region, bidding a combined 4.51 billion rubles ($151 million).

The two prospects, Yangareysk and Sabriyaginsk, are about 200 kilometers from the Trebs and Titov fields, which Bashneft is developing with LUKoil, the regional producer said Tuesday.

The blocks may hold 28.2 million tons of recoverable oil resources.

(Bloomberg)