Russia’s licensing agency Rosnedra has awarded five exploration licences in northern Russia’s Timan-Pechora region to Alliance Oil.
Alliance has secured the licences for Fakelniy, Beluginskiy, Nireiskiy, Nadezdenskiy, and North-Tabrovoyahinskiy. All are in close proximity to the company’s existing operations.
The new concessions encompass an area of 2,740sq km and are estimated to contain some 325million barrels of oil and some 86million barrels oil equivalent of gas.