London-based and listed oil company Sibir has bought six parcels of land in Western Siberia near the giant Samotlor oilfield, where satellite fields are part of Russia’s most prolific oil regions.

The Koltogorsky blocks include area pipelines, a Transneft trunkline, a gas pipeline, power lines, an asphalt road and river navigable enough for cheap delivery of cargoes and gear.

Since their issue in 2004, the licenses have been shot with 2,500 kilometres of seismic surveys “indicating 35 identifiable oil traps in the Lower Cretaceous and Jurassic at depths of 2,600 to 3,200 meters,” a statement said.

The licenses require the drilling of eight exploration wells, one in each block, over two years. Subsidiary Magma will manage the $50 million in drill bit work.