Lukoil, Gazprom Neft Create Joint Venture to Develop Siberian Oil and Gas Cluster
16 Septembre 2021 - 5:13PM
Dow Jones News
By Anthony O. Goriainoff
Lukoil PJSC said Thursday that it has created a joint venture
with Gazprom Neft to develop a major oil and gas cluster in
Russia's Yamal-Nenets autonomous region.
The Russian oil-and-gas company said the JV will cover the
Tazovskoye, Meretoyakhinskoye and Severo-Samburgskoye fields, as
well as two Zapadno-Yubileyny license blocks, located in northwest
Siberia.
The company said total geological reserves initially in place at
the cluster stand at over 1 billion metric tons of oil and about
500 billion cubic meters of gas. The company said a considerable
proportion of the reserves initially in place are within the
Achimov formation and that they are categorized as hard-to-recover
reserves.
"This joint venture, bringing together our financial and
technological resources, will see us working on developing
hard-to-recover reserves, including producing oil from Achimov
formation. This, in turn, will create new jobs and extra tax
revenues at every level, as well as facilitating further
technological development of our companies and the entire ecosystem
of contractors and equipment producers," Gazprom Chief Executive
Alexander Dyukov said.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
September 16, 2021 10:58 ET (14:58 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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