The largest oil fields are distributed without any competition

Literally just the leading Russian oil companies, and even foreigners in the face of India's ONGC struggled to obtain a license for strategic deposits them. Trebs and Titov. Rather, create the appearance of the struggle. Initially, the asset claimed six candidates, but the government quickly screened out more than half. The reasons seemed no more than technical shortcomings: for example, "Lukoil" failed due to lack of official confirmation of the reliability of financial statements. Followed without any explanation from the race came down "Surgutneftegaz", leaving "Bashneft" the only bidder. After that contest was not difficult to predict. Sale Naulskogo deposits in the NAO has caused a feeling of deja vu. At the last moment, "Lukoil", in dire need of new reserves to support the last couple of years falling prey, withdrew its application for participation. Again, no explanation. As a result, "Rosneft" as the sole bidder paid into the treasury 3.6 billion rubles (one year ago this site was sold for 7 billion rubles, but nobody bought) and 25 years received a license at its disposal. Three months later, history repeats itself. The next step - selling Imilorskogo field in the Khanty-Mansiysk. Everything you need for the auction, "Mr. Rosned" have done, and as soon as the government will give "good", the date of auction will be assigned. The field belongs to the category of strategic: recoverable C1 + C2 are estimated at 193 million tons (1.4 billion barrels). If numbers are confirmed, then annual production at Imilore can make up 9-11 million tons per year, which means that all the major Russian oil companies aimed at improving the prospects for oil production, will try to catch this tidbit. Moreover, after its sale in the bank undistributed fund will be just three strategic oil fields with reserves of more than 70 million tons of oil. Private owners is not the place. But the surprise of the contest is expected. Most likely, the deposit will depart into the hands of "Gazprom oil". The reasons are many. First, the company (then in the face of "Sibneft") has been developed Imilor in the early 1990's, but was soon deprived of license for failure to comply with its terms. Second, the recent acquisition of Sibir Energy and protracted transfer of licenses from "Gazprom" needs a new bold step to implement a strategy to double production over the next decade. Of course, you can raise production at existing fields and using the latest technology, but it's easier and cheaper to buy new assets, because the state can provide good incentives for the development of the purchased land. Everything else, "Gazprom oil" in the neighborhood develops Imilorom Kholmogorskoye field with developed infrastructure. The press service of the company's strategic interest to confirm Imilorskomu deposit. But most importantly - government support. "Upon the sale of strategic oil fields in the priority is always state-companies" - notes analyst at IFC "Alemar" Anna Znatnova. Chance of winning, for example, in "Lukoil" is not enough. Although he is perhaps more than any other we need new resources like dropping by around 5% per year production requires compensation to the same near-Imilorom located Tevlinsko Russkinskoye deposit company. "However," Lukoil "in recent years, remains aloof from the distribution of natural resources in Russia, - said Vitaly Gromadin of" Arbat Capital. " - Even the company's success in the North Caspian Sea were under threat because of the government's decision to allow work on the Russian shelf only to "Gazprom" and "Rosneft". Because of the apparently limited possibilities of a private company in Russia ConocoPhillips last year agreed to withdraw from the capital. " However, "Lukoil", seems resigned to this situation: the company is trying to expand the mining base at the expense of foreign deposits and has already made a down payment of $ 1.8 billion for the possible acquisition of a foreign mining asset that has not been named, citing the ongoing negotiations and a trade secret. It may be, for example, Brazilian or Argentine projects, which "Lukoil" while eyeing. No more than a formality. Among the contenders is still TNK-BP, which, like the "Gazprom Neft" has led the development in this area in the late 1990s, but failed. "Today," TNK-BP Holding "is interested in increasing its resource base, especially after the loss of" Russia Petroleum ", who owned the license to develop the Kovykta field - reflects Anna Znatnova. - But the company's chances of winning are small: it does not have experience and a clear development strategy for the next 10 years. " But "Rosneft" is unlikely to come into the fight for an asset, though, with government support, she could win. But this year the company has already acquired Naulskoe field for 3.6 billion rubles. The starting price is Imilorskogo deposit 20 billion rubles, or more than 5 times higher. Moreover, despite the attractiveness of the site, its development can be costly - hydrocarbons Imilora refers to Achimov deposits, the depth of about four thousand meters. "Besides, if it wins its neighbors will be" Gazprom oil "and" Lukoil ", which may require a fee to use them for further transport infrastructure" - adds Anna Znatnova. Potentially "Surgutneftegaz" may also participate in the auction and find a use accumulated funds, but the likelihood of this is small. "It is doubtful that the sale of licenses was part of a full-fledged competition - believes Vitaly Gromadin. - In the current realities of the oil companies have a chance to decide the outcome of competition before the official event. " "As a rule, the results of large-scale auctions or tenders for attractive deposit shall be determined prior to the event, so, unfortunately, the real competition does not work, and tenders are transformed into a mere formality to clear before the result - agrees analyst IFD" Capital "Vitaly Kryukov. - This reflects negatively on the investment climate in Russia and is not conducive to attracting foreign capital into the country. " And for the foreseeable future is unlikely that anything will change, he said. What's next? In 2011, "Rosnedra" plan to auction off three more federal land hydrocarbons: North Rogozhnikovsky Erginsky and land - in Khanty-Mansiysk and Boat deposit - in the Krasnoyarsk Territory. However, the final decision on the fate of those assets the Federal Agency for Subsoil Use only after the sale will Imilora. In 2011, the budget plans to attract 40 to 70 billion by selling licenses for strategic fields. The auction for the sale of licenses to deposit them. Trebs and Titov, and Naulskoe already brought to the treasury of slightly more than 20 billion rubles. "So as a result of the auction for the sale of licenses to develop the deposit will be Imilorskogo clear whether the government auctions or even stop," - says Anna Znatnova. However, if the North and Rogozhnikovskoe Erginskoe deposits, which have huge reserves (145.9 million tonnes and 69, respectively), may develop a real struggle, the outcome of the sale of boats (stocks C1 + C2 are 128.7 million tons), as in the case of Imilorom that has been virtually a foregone conclusion. The main contenders for it will probably be only two - "Rosneft" and TNK-BP are developing fields in the neighborhood. Boat is adjacent to the Vankor project of "Rosneft". Also close to Tagulskoe Suzun and TNK-BP. If you win it will minimize the development costs of new assets. But, of course, more likely in "Rosneft" - allegiance to help, according to Vitaly Gromadin.