Kalmykia will increase oil production
The Ministry of Natural Resources and Environmental Protection of the Republic of Kalmykia informs: [ Ru ]
Caspian oil field in the Lagan region of the Republic of Kalmykia, which was previously under development, will be re-launched for oil production as soon as possible. Specialists will also carry out additional exploration on it, according to the press service of the Ministry of Natural Resources and Environmental Protection of the Republic of Kalmykia.
In case of discovery of new oil and gas fields in the Republic of Kalmykia will create new jobs, will increase revenues to the budgets of all levels, including the local one, will improve the socio-economic situation in the region.
An auction for the right of hydrocarbons exploration and production on the Caspian block in Kalmykia will be held on February 21, 2023, the corresponding information was published on the portal of the GIS “Bids”.
Applications will be accepted until 27 January.
The starting amount of the one-time payment for the 20-year license is 264.362 million Russian rubles.
Minister of Natural Resources and Environmental Protection of the Republic of Kalmykia Ochir Dzhambinov said: “The Caspian oil field was previously in development, its operating fund is 18 wells. There are drilled wells at the field, which are in conservation, and therefore there is an opportunity to put it into operation and start producing oil in the shortest possible time”.
Specialists consider it promising to carry out additional exploration of the Caspian field discovered in 1960. In terms of initial recoverable oil reserves, it is classified as medium, and in terms of its geological structure, it is classified as complex. Current geological reserves of oil are about 14 million tons.