On 9 October 2018, the Federal Agency for Subsoil Use held an auction for three blocks in Dagestan Republic (North Caucasus). Two companies submitted applications and local DagestanBureniyeServis offered highest bids for all blocks. The winner of the auction will obtain 20-year E&P licenses.  Details of the offer are as follows:  The Kapiyevskiy block covers 10.1 sq km in the Terek-Caspian Basin and encompasses the developed Kapiyevskoye oil field with remaining recoverable 3P reserves estimated at 0.5 MMbbl. Three oil accumulations in the Lower Cretaceous and Middle Jurassic sections have been identified at Kapiyevskoye discovered in 1969. Cumulative oil production amounts to 3.4 MMbbl. The starting price amounted to RUB 9.48 million (USD 0.14 million). The winning bid was RUB 10.428 million (USD 0.16 million).  The Oktyabrskiy block covers 2.9 sq km in the Terek-Caspian Basin and encompasses the almost depleted Oktyabrskoye oil field. One oil accumulation in the Lower Triassic section has been identified at Oktyabrskoye discovered in 1985. Cumulative oil production amounts to 0.044 MMbbl. The starting price amounted to RUB 0.772 million (USD 0.01 million). The winning bid was RUB 0.849 million (USD 0.01 million).  The Nakazukhskiy block covers 3.6 sq km in the Terek-Caspian Basin and encompasses the almost depleted Nakazukhskoye oil field discovered in 1988. Cumulative oil production amounts to 0.38 MMbbl. The starting price amounted to RUB 0.752 million (USD 0.01 million). The winning bid was RUB 0.827 million (USD 0.01 million).
Russia Government of Russia awards three licenses in Dagestan - Kapiyevskiy, Oktyabrskiy & Nakazukhskiy block 