Russian licensing summary 2010
Licensing activity in 2010 shows a slight recession in comparison with 2009. A total of 273 auctions were held in 2010 which is similar to the number of auctions held in 2009. Although a large number of blocks were entered into the auction process, only 57 have been awarded in 2010. At the same time the number of cancelled auctions has increased by a quarter.
Source: Petroleum Services Group at Deloitte
Last year's trends highlight that the government is looking for investments in exploration and production. However, the number of awarded licenses and cancelled auctions show that there is a weak interest in new exploration and production projects among companies.
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