OREANDA-NEWS. July 22, 2010. Licenses on new 'Trebs' and 'Titov' oil fields could be soon tendered. The starting price for the fields could amount to RUB60bn (almost USD2bn), which if true would be the largest ever sum of money charged by the Russian government for undeveloped oil and gas reserves, reported the press-centre of OTKRITIE Financial Corporation.

The fields are located in the Nenets Region and contain recoverable ABC1 oil reserves of 78.1MMt and 132.8MMt respectively.

View: We believe that Rosneft and LUKOIL are the key contenders for the new fields since both companies have assets in the same oil production area where the fields are situated.