On 24 October 2019, the Federal Agency for Subsoil Use held an auction for five blocks in Orenburg Oblast (Volga-Ural Province). Lukoil-subsidiary Ritek won four blocks with combined offer of USD 96.35 million. Gazprom Neft became the winner for one block. Winners of the auction will obtain 25-year E&P licenses.   Details of the offer are as follows:  The Nizhneozernyy 1 block covers 329 sq km. Hydrocarbon resources (category D1) of the block are estimated at 27 MMbbl of oil and 55 Bcf of gas. The starting price amounted to RUB 7.8 million (USD 0.1 million). Ritek, competing against seven companies, offered RUB 3,243.24 million (USD 50.68 million).  The Nizhneozernyy 2 block covers 579 sq km. Hydrocarbon resources (category D1) of the block are estimated at 67 MMbbl of oil and 65 Bcf of gas. The starting price amounted to RUB 16 million (USD 0.25 million). Ritek, competing against seven companies, offered RUB 1,460.8 million (USD 22.8 million).   The Pervomayskiy block covers 411 sq km and encompasses the Mayevskaya prospect with hydrocarbon resources estimated at 1 MMbbl of oil, 17 Bcf of gas and 0.2 MMbbl of condensate. Hydrocarbon resources (category D1) of the block are estimated at 42 MMbbl of oil and 75 Bcf of gas. The starting price amounted to RUB 9.8 million (USD 0.15 million). Gazprom Neft offered RUB 10.78 million (USD 0.17 million).  The Tsentralnyy 1 block covers 590 sq km. Hydrocarbon resources (category D1) of the block are estimated at 69 MMbbl of oil and 113 Bcf of gas. The starting price amounted to RUB 21.8 million (USD 0.34 million). Ritek, competing against five companies, offered RUB 1,007.16 million (USD 15.7 million).   The Tsentralnyy 2 block covers 496 sq km. Hydrocarbon resources (category D1) of the block are estimated at 58 MMbbl of oil and 65 Bcf of gas. The starting price amounted to RUB 14.9 million (USD 0.23 million). Ritek, competing against five companies, offered RUB 458.92 million (USD 7.17 million).
Russia, not found