Russian Natural Resources Ministry To Offer Several Federal Subsoil Fields on Auction in 2011

The Russian Natural Resources Ministry will put several federally-ranked subsoil fields up for auction, Natural Resources Minister Yuriy Trutnev said today in Moscow.

The fields include the Naulskoye, Lodochonoye, Malyshevskoye and Selidovskoye fields. Trutnev said the gold field Sukhoy Log was not included in the list of fields to be licensed in 2011.

The minister said Russia would conduct about 300 to 500 to 700 auctions for subsoil rights in 2011. the revenue from the auctions would be significantly higher than in 2010, he said.