Project Borealis
SIA Group is excited to present Project Borealis, a Russian oil and gas company which holds an exploitation license to a field in the highly prospective West Medvezhye region in Siberia. This opportunity provides an attractive entry point into one of Russia’s prolific oil and gas fields, with significant upside potential in both oil and natural gas resources.
The West Medvezhye region is renowned for its rich hydrocarbon deposits, and following the successful discovery of oil in the field in the mid-2000’s, the company commissioned a number of prospective resource studies, which included the integration and analysis of seismic and well data. Studies show the field contains booked reserves of 12 mmbbl and field contingent resources of 25 mmbbl with additional unrisked prospective oil and gas resources of 700 mmbbl and 4 Tcf.
A number of valuations were carried out in relation to the field prior to the Russia-Ukraine war, with investment scenarios to develop the site providing an estimated Net Present Value (NPV) upwards of $250 million, which is indicative of the field’s vast resource potential and prospective future cash flows.
The company’s exploitation license is valid until 2026 and there is potential to extend this license to ensure longer-term operational security.
All expressions of interest should be registered by no later than Monday 19 August 2024 at 12pm (BST).
Final offers must be submitted by Wednesday 28 August 2024 at 12pm (BST).
Offers are invited for the shares of the Company. All offers must include proof of funding.
For further information, please contact Emily Muir at emily.muir@sia-group.co.uk and Emre Turan at emre.turan@sia-group.co.uk.
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