04 June 2004 00:48
Lukoil to increase number of Caspian projects
MOSCOW. June 4 (Interfax) - Russian oil major Lukoil plans to significantly increase the number of its projects in
the Caspian region and to produce 18% of all its hydrocarbons here by 2020.
Lukoil said in a press release that Lukoil President Vagit Alekperov made this announcement at the 11th session of
the board of foreign investors, chaired by Kazakh President Nursultan Nazarbayev.
impact study has already been carried out for these projects and
seismic work will begin at Tyub-Karagan in June this year, with
He said that for this a development program has been drawn up with investment of up to $13 billion. Lukoil has
already invested over $1.5 billion in the Kazakh economy alone.
The company has actively started to implement agreements signed on January 9, 2004 in the presence of the Russian and
Kazakh presidents for the Tyub-Karagan and Atashsky offshore projects. An environmental
drilling of the first well planned for 2005.
In addition, according to an intergovernmental agreement on the national sectors in the Caspian between Russia and
Kazakhstan, Lukoil and KazMunaiGaz will continue joint work on the Khvalynskoye and Tsentralnoye structures. [RU EUROPE
ASIA EEU EMRG KZ ENR CRU OIL] rd
[Interfax] |
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