Lukoil is the main competitor of Russian State Oil. Both companies have government backing, but they serve different factions, making competition inevitable.
Oleg, the president of Lukoil, is five years younger than Maxim, the president of Russian State Oil. However, his words were sharp and aggressive. "What other reason could there be for me to come, President Maxim? I think we're all here today for that $332.5 billion oil field, aren't we?"
Both companies emerged in the 1990s as major players in the energy sector. Securing this oil-rich land would give the winner a significant advantage in the industry.
As the two presidents exchanged sharp words, a middle-aged Russian man with a silver beard stepped out of his armored Giorgio Patton SUV.
"Haha! What a lively gathering today! President Maxim, President Oleg, it's been a while—hope you've been well?"
This man was Andreev, the president of Surgutneftegas.
The moment these three appeared, the CEOs of smaller energy companies fell silent. They could only watch as the industry giants put on a show of power and dominance.
At the same time, Mavi, still a relatively unknown figure in Russia's oil industry, quietly stepped out of his car.
At that moment, whether intentional or not, the three oil moguls—who had been engaged in lively conversation—turned their heads one by one to glance at Mavi. Their gazes carried an unreadable depth.
"That young man—is he Mavi from the Mikoyan family? I heard his publicly traded company in the U.S. raised over $100 billion?" Maxim asked his assistant in a hushed voice.
Mavi's name was already well-known among Russia's elite.
Whether it was resolving the Ukrainian nuclear disarmament crisis, involvement with Russia's nuclear-powered aircraft carrier, or the Second Chechen War, Mavi had played a role in all of them.
Even those who had never met him had heard his name.
No wonder the three oil tycoons turned to look—they wanted to see what kind of man he was.
"Yes, President Maxim. That is indeed Mavi," the assistant responded respectfully.
"He looks quite composed. This bidding won't be easy..." Maxim murmured, a hint of concern in his voice.
After all, $100 billion in liquid capital could easily crush even the three biggest oil giants in Russia.
Despite the massive valuation of the oil fields, the risks, losses, taxes, and actual profits meant the net gains were far less than what Mavi had earned from his company's IPO.
Just one move from Mavi had brought in $100 billion—a sum the oil industry could only dream of.
Although Maxim saw Mavi as a formidable competitor, he was not a reckless villain from a novel, blindly provoking the protagonist.
Likewise, Oleg and Andreev, who were also verifying Mavi's identity with their aides, were no fools.
After seeing Mavi in person, the three presidents grew visibly more cautious and walked toward the Land Resources Bureau's banquet hall to prepare for the upcoming auction.
To them, Mavi was a serious threat—one that could turn Russia's oil industry upside down.
Mavi, however, was completely unaware of their concerns.
In fact, he considered himself just a rookie in the industry and was only attending the auction to gain experience.
At most, he planned to bid on a couple of smaller oil fields as a learning opportunity.
As for the $330 billion oil field, he had no intention of competing.
The three oil tycoons acted as if they were ignoring Mavi.
But the smaller oil company executives, eager to curry favor, rushed forward to introduce themselves.
"You must be the legendary Mr. Mavi! An honor to meet you! I'm from Delos Oil Company..."
"Mr. Mavi, it's a pleasure! I've heard so much about you but never had the chance to meet you in person. Are you here to bid on the $332.5 billion oil field?"
For these small oil firms, the most lucrative oil blocks were simply out of reach.
The final bid for such a valuable site would easily exceed $9 billion—a high-stakes gamble where a failed extraction could mean total financial ruin.
"I'm just here to observe. I don't have the resources to compete for such an expensive site," Mavi replied honestly.
Although he had $11.968 billion in available funds, he couldn't just spend it recklessly.
He had a responsibility to the shareholders who had placed their trust in him.
"Mr. Mavi, you're too humble! I'm sure that $332.5 billion oil field is already in your pocket!"
The small oil tycoons eagerly flattered him.
From what they knew about Mavi's wealth and decision-making style, when he made a move, it was always bold and spectacular.
There was no way he was just here to spectate.
Even the three oil moguls inside the government building didn't believe Mavi wasn't competing.
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### Auction Begins
Half an hour later, everyone took their seats in the auction hall.
Although Mavi was supposedly just a spectator, the Land Resources Bureau's director, Cheryev, seated him in the front row.
He was also assigned bidder card number "2", second only to Russian State Oil—an indication of how highly the bureau regarded him.
"Tap, tap, tap!"
Two minutes later, the auctioneer—a poised woman in a black professional dress—stepped onto the stage, holding a wooden gavel.
After introducing herself, she got straight to business.
"Ladies and gentlemen, we will now begin the auction for the AC16 oil block in the Caucasus region of Russia.
Geological surveys indicate that this area holds approximately $52 billion in oil reserves.
The starting bid is $150 million, with a minimum increment of $10 million per bid.
Let the auction begin!"
The auctioneer's voice rang out across the room, signaling the start of the bidding war.
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(End of Chapter)