On May 4th, 2000, the acting President of the Russian Federation has signed the Federal Decree No. 60 FZ - Leases for Mineral Resources on Conditions of Allotment of Commodity (Northern-Astrakhan Blanket Lease).
Friday, May 12, 2000
On May 4th, 2000, the acting President of the Russian Federation has signed the Federal Decree No. 60 FZ - Leases for Mineral Resources on Conditions of Allotment of Commodity (Northern-Astrakhan Blanket Lease). Forecasted recoverable mineral resources in the Northern-Astrakhan region were estimated: for oil up to 750 million tons, for associated petroleum gas up to 300 billion cubic meters, not accounting feasible overlying accumulations of gas and gas condensate. The Northern-Astrakhan allotment is situated in the Astrakhan area, with well developed infrastructure. The right of use the mineral resources of the aforementioned allotment belongs to the joint-stock company Astrakhannefteprom, which was established by OAO Stroytransgaz and Administration of the Astrakhan region. In a near future OAO Stroytransgaz, Administration of the Astrakhan region and the joint-stock company Astrakhanyefteprom are planning to organize an international tender for investments on exploration and development of the Northern-Astrakhan zone hydrocarbon raw material stocks.
