On 16 May 2018, the Federal Agency for Subsoil Use held an auction for two blocks in Orenburg Oblast (Volga-Ural Province). Gazprom Neft submitted the highest bids for both blocks. The winner of the auction will obtain 25-year E&P licenses.   Details of the offer are as follows:  The Savitskiy block covers 904 sq km in the Buzuluk Depression and encompasses the Yablonevskiy and Larionovskiy prospects with combined oil resources estimated at 41 MMbbl. Hydrocarbon resources (category D1) of the block are estimated at 145 MMbbl of oil and 103 Bcf of gas. The starting price amounted to RUB 96.65 million (USD 1.56 million). Gazprom Neft offered RUB 1,894 million (USD 30.5 million).  The Pokhvistnevskiy block covers 592 sq km in the Buzuluk Depression and encompasses the Latypskoye and Zhukovskoye Severnoye discoveries, not registered by the State due to small sizes. Hydrocarbon resources (category D1) of the block are estimated at 70 MMbbl of oil and 96 Bcf of gas. The starting price amounted to RUB 10.25 million (USD 0.17 million). Gazprom Neft offered RUB 507.375 million (USD 8.18 million).
Gazprom Neft was awarded Savitskiy (904kmÂ²) & Pokhvistnevskiy (592kmÂ²) block located in Orenburg Oblast.