MOSCOW, April 20 (RIA Novosti) - Russia's Federal Anti-Monopoly Service said Thursday it had allowed nine companies to tender for Udmurtneft [RTS ticker: UDMN], the main oil producer in the Volga republic of Udmurtia.
The company is currently owned by Russian-British joint venture TNK-BP.
Russian oil companies Sibneft, majority-owned by energy giant Gazprom, Russneft, and Kazakhstan's KazMunaiGaz are among the companies competing for the controlling stake in Udmurtneft, which accounts for 60% of the oil output in Udmurtia.
It was announced earlier that applications for the tender could be submitted until April 29, and the TNK-BP board of directors would discuss the auction procedure by late May.
Udmurtneft, with annual oil production of some 6 million metric tons (120,500 bbl/d), is currently developing 26 oil fields in the region.
