Insight

Russian licensing review 2012

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Report summary

Russian exploration and development licensing declined sharply in 2012, with a total of only 67 known awards made. This constitutes a new low in a declining trend from a peak of 363 in 2006. Signature bonuses of US$3.6 billion were paid, of which US$3.15 billion were for just two strategic assets in West Siberia. These two licences, Imilorski and North Rogozhnikovski, contain large oil fields with reserves of almost two billion barrels.

What's included

This report contains

  • Document

    Russian licensing review 2012

    PDF 605.95 KB

Table of contents

  • Executive Summary
  • The top awards
    • West Siberia
    • Volga-Urals
    • Timan-Pechora
    • East Siberia
    • Far East
    • North Caucasus
    • Barents Sea
  • Prospects for 2013
  • Appendix: Licences awarded in 2012

Tables and charts

This report includes 11 images and tables including:

Tables

  • West Siberia
  • Volga-Urals
  • Timan-Pechora
  • East Siberia
  • Far East
  • North Caucasus
  • Barents Sea

Images

  • Top 10 awards in 2012 by signature bonus (US$ million) and basin
  • Number of licences awarded by year and region
  • Distribution of signature bonus payments in 2012 by region
  • Map - Blocks awarded in West Siberia and Timan-Pechora in 2012

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