The first electronic auction for oil and gas fields: 3 lots for $141 million have been sold

Today, March 6, 2019, the first electronic auction on special licenses sale for oil and gas fields’ development was held – oil and gas fields were put up.

  • The first auction was for ​​Dubrovsko-Radchenkovska field in Poltava region with an initial price of 17 million 501 900 UAH.

Two applicants participated in it. One of them came up with a minimum price of the Public Service of Geology and Subsoil of 17 million 501,900 UAH, the second participant initially set the price of 25 million 100,000 UAH (43% more expensive than the starting price). Following the results of three rounds, the “stakes” remained the same.

The winner was the company “Naftogazpromyslova Geology” Llc. The company is a part of the Burisma Group. The company produces and sells hydrocarbons in the Poltava region, it has 2 special licenses for the use of subsoil in the Mateshivsko-Leheydovska and Iordansko-Deynekovska fields.

“Naftogazopromyslova geology” was established in 2012, and belonged to the Cyprus offshore Diloretio Holdings, its owners are two unknown Cypriots ”, according to the Insider. The company already had 2 special licenses for production in 2014. It joined the Burisma Group in 2017.

Participant No.1 was private enterprise “Optima-resource”, registered in Poltava.

  • At the second auction Svitankovo-Logivska field (Kharkiv region) was put up with an initial price of 17 million 735 500 UAH.

4 bidders took part in the auction. With the initial proposed price: 17 million 735.5 thousand UAH, 21 million 369.66 UAH, 34 million UAH, and 41 million UAH.

In the first round of auction participant No.3 raised the rate from 34 million UAH to 60 million UAH (+ 238% to the starting price), and participant No.2 – from 41 million UAH to 60 million 10 thousand UAH.

In the second round, the “rates” rose to 68 million UAH, and 68 million 10 thousand UAH, respectively.

In the third round, the price rose to 85 million UAH from participant No.2, participant No.3 raised the price by 1,000 UAH and won the auction.

“Naftogazsistemy” became the winner. The company’s 100% owner is “DTEK OIL AND GAS B.V” (registered in the Netherlands). The direct competitor of the winner, lagging behind only by 1000 UAH, was “Prom-Energo Product” Llc. The company is part of the Smart Energy group (its owner is a businessman Novinsky, Rinat Akhmetov’s partner).

“Ukrgazvydobuvannya” offered 21 million UAH, private enterprise “Optima-Resource” participated in the auction with the minimum cost.

It was reported earlier that until the end of May, the Public Service of Geology and Subsoil will put up 30 oil and gas fields in electronic auctions. About the first ten fields - starting prices and locations read here.

  • At the third auction, participants bought a special license to use the South-Kobzovska field in the Kharkiv region with an initial price of 9 million 623,200 UAH.

Two companies took part in the auction. One of the participants made a proposal equal to the minimum price. The second immediately offered 30.9 million UAH (more than three times higher than the starting price). For three rounds, prices have not changed.

“Ukrgazvydobuvannya” became the winner of the auction.

The company, which in all auctions offered a minimum, and helped two auctions to find its winner, once again became the private company "Optima-Resource".




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Tags: gas, oil, hydrocarbon production, gas production

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