Based in the heart of the major Russian oil-producing region in west Siberia, Kondaneftegaz was established in 2004 for the purpose of geological research and development of hydrocarbon deposits in the Khanty-Mansiysk area.
Kondaneftegaz was awarded two oil and gas exploration licenses for Karabashsky-61 and Karabashsky-67 blocks located in the region. These are the first two successfully obtained licenses of the 10 for which the firm has applied. New licenses notably increase the company’s existing holdings in west Siberia.
David Zaikin, CEO of Siberian Energy Group (SEG), said: I view the attainment of these two new licenses as significant to the company’s overall strategy. In addition to their geological and geographical significance, they also contribute to SEG’s existing holdings in west Siberia. Acquisition of new licenses continues our commitment to satisfying global energy needs.
The Khanty-Mansiysk area is one of the world’s largest oil-producing regions and is the largest producing province in Russia. The total volume of oil and gas condensate produced by companies in the region reached two billion barrels in 2006.
