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    TNK-BP likely to select Udmurtneft auction winner this week

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    MOSCOW, June 19 (RIA Novosti) - Russian-British oil consortium TNK-BP said Monday it could select a winner in the tender for the sale of Udmurtneft (RTS: UDMN) by the end of week.

    TNK-BP President Robert Dudley said the delay in announcing the tender's results was due to the complex procedure for submitting bids. He also said there was a raft of bids whose price offers were close to each other.

    The Russian anti-monopoly watchdog allowed ten Russian and foreign firms to bid for a controlling interest in Udmurtneft, the main oil producer in the Volga region Republic of Udmurtia.

    Udmurtneft, which has annual oil production of some 6 million metric tons (120,500 bbl/d), is currently developing 26 oil fields in the region.

    Udmurtneft has a charter capital of 3.56 million rubles (about $130,000) divided into 2,671,549 ordinary and 890,517 preferred shares, each with a face value of 1 ruble (about $0.03).

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