On 26 September 2019, the Federal Agency for Subsoil Use held an auction for three blocks in Irkutsk Oblast (Eastern Siberia). Four companies submitted bids and Irkutsk Oil Company (INK) and Krasnoyarsk Oil & Gas Company (KNK) emerged as the winners. Moscow-registered KNK is owned by the Cyprus-based Neiteoil Limited. The winners of the auction will obtain 27-year E&P licenses including a 7-year exploratory stage.   Details of the offer are as follows:  The Vikhorevskiy block covers 3,643 sq km in the Angara-Yenisey Basin. Seismic coverage amounts to 153 km. No exploratory wells have been drilled in the area. Reservoirs of the Riphean and Vendian-Cambrian sections are the main exploratory targets. Hydrocarbon resources (categories D1+D2) of the block are estimated at 5 MMbbl of oil and 1,257 Bcf of gas. The starting price amounted to RUB 5.414 million (USD 0.08 million). KNK offered RUB 5.95 million (USD 0.09 million).  The Ust-Kutskiy Zapadnyy block covers 3,611 sq km in the Nepa-Botuoba Basin. Seismic coverage amounts to 1,336 km. Two exploratory wells have been drilled in the area. Reservoirs of the Riphean and Vendian-Cambrian sections are the main exploratory targets. Hydrocarbon resources (categories D1+D2) of the block are estimated at 67 MMbbl of oil and 1,147 Bcf of gas. The starting price amounted to RUB 14.158 million (USD 0.22 million). INK offered RUB 15.57 million (USD 0.24 million).  The Chitorminskiy block covers 4,812 sq km in the Angara-Yenisey Basin. Seismic coverage amounts to 1,309 km. Ten exploratory wells have been drilled in the area. Reservoirs of the Vendian-Cambrian section are the main exploratory targets. Hydrocarbon resources (categories D1+D2) of the block are estimated at 32 MMbbl of oil and 1,627 Bcf of gas. The starting price amounted to RUB 10.584 million (USD 0.17 million). INK, competing against Gazprom, offered RUB 780 million (USD 12.1 million).
Irkutsk Oil Co won 2 blocks: Chitorminskiy (4812kmÂ²) in the Angara-Yenisey Basin: and Ust-Kutskiy Zapadnyy, (3611kmÂ²) in the Nepa-Botuoba Basin